After a near term bounce, that sounds about right Joe. The break below the previous active low sets us up for more downside later. I think we'll see a counter trend move back up to between .8150 and .82. After that, I'm looking to enter short again.
Joe..what news release data would cause that much drop?Trade balance data just released should be very good for kiwi since it showed more exports than imports.Not sure if RBNZ governor was dovish or hawkish in his statement...last rate decision release clearly stated upcoming rate increases.Bottom line is I simply am not seeing a fundamentals breakdown to cause it to drop where I would love to buy it(LOL)
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