FxWirePro: Possible 'Bearish Cypher' on NZD/USD Dailies
New Zealand economy is looking solid and yesterday terms of trade saw a 4.4% rise, which is one of many “fundamentals”.
RBNZ’s meeting next week (which will be accompanied by a full Monetary Policy Statement) is a major event risk.
The market prices only slightly more than a 20% chance of a cut at the meeting.
On the technical side, we see a possible 'Bearish Cypher' pattern on NZD/USD daily charts.
This post first appeared on Trading Blogs And Financial Markets Analysis, please read the originial post: here
