[NZDUSD] TARGET 1 HIT!! but...

We are happy to have achieved our TARGET 1, but now the focus is on RBNZ. From a technical standpoint, we can not rule out a pullback (3D), but the key remains the wait for Wednesday March 22.
The RBNZ meets this week and we think they will attempt to talk down the currency.  Since their last meeting in February, consumer spending has fallen, GDP growth slowed, the trade deficit widened while dairy prices declined. We'll see...


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