The New Zealand Dollar made a sharp decline after controversial statements made by the Fed and the RBNZ. As a result, NZDUSD dropped down by 1.5%.
Analysts say that market participants had anticipated more aggressive steps from the FOMC. This caused disappointment, which was aggravated by the threat of currency interventions coming from the RBNZ, thereby pushing traders and investors to get rid of the NZ Dollar.
Still, most experts assume that there won’t be any currency interventions in the near future.
Forex.
According to , the New Zealand Dollar keeps weakening against the US Dollar. The experts report that NZDUSD is forming a major downswing, which may turn out to be a wave of level Daily.
The closest levels of support are 0.8303. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.8488 (as shown below).
