The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
NZD/USD: short-term triangle
2021-03-17 • Updated
The USD has been getting stronger against the NZD since March 11. Currently, the lower highs are aligned into what seems to be a possible upper side of the triangle formation which has 0.7160 as its support zone.
If that's the case, soon, the support of 0.7160 may be crossed downwards opening the way for bears down to 0.71.
Fed's announcement today may accelerate the process - let's check it out!
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