Signal: Sell
Entry Price: 0.6108
Stop Loss: 0.6120
Take Profit: 0.6092
The New Zealand Dollars tend to be struggling at the moment after it reach it apex point recently, consolidation has be on a lower low, this can be attributed to the recent covid 19 that had given a thresh to there economy despite the fact that the Reserve Bank of New Zealand (RBNZ) expands its Large Scale Asset Purchase (LSAP) programto NZ$60 billion from NZ$33 billion, but the update to New Zealandís Retail Sales report may definitely produce a bearish reaction in the exchange rate as private sector consumption is expected to elasp at 1.5% following the 0.7% at the tail end of 2019.
The RBNZ Governor Adrian Orr may be forced to support the economy with some palliatives after the pandemic, this could be the summary of his recent interview on Bloomberg News Agency.