ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPNZD Preparing for Downward Expansion
After the Medium Term Plan announced in England, we also saw movements in favor of the pound in the parity. However, with the Reserve Bank of New Zealand (RBNZ)'s record rate hike of 75 basis points earlier today, we observe downward pressure on the parity. Technically, the pair, which is preparing to expand in the intermediate trend with the preparation of wedge formation, can continue its losses until 1.9065 and then 1.8980 if it can break the 1.9150 support with permanent closures. Above 1.9330 – 1.9425 line is strong resistance zone.
