[NZDUSD] POTENTIAL CONSOLIDATION....

On intraday chart, could be possible a head and shoulder in development. We can not forget that tomorrow is expected RBNZ decision about interest rates, and this event should lead to increased volatility in the short term.


NZD Reserve Bank of New Zealand Rate
Decision The decision to change or maintain New Zealand 's Official Cash Rate. The RBNZ is known for its clarity regarding monetary policy intentions, thus the result is usually foreseen in advance. The decision aligns with the Reserve Bank of New Zealand 's monetary policy to spur or slow economic growth or affect the exchange rate. The RBNZ maintains an inflationary target of 1-3 percent and will change rates to keep it within such a range, making rate decisions fairly predictable. Rate changes are significant nonetheless, affecting interest rates in consumer loans, mortgages, and bond rates. Increases, or even expectations for rate increases tend to cause the New Zealand Dollar to appreciate, while rate decreases cause the currency to depreciate.

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Now, if you want, you can move stop loss to breakeven.....