GBPNZD: Rate Cut & Weak Outlook Sink NZD—Is GBPNZD Overextended?
GBPNZD: Rate Cut & Weak Outlook Sink NZD—Is GBPNZD Overextended?
The New Zealand Dollar faced aggressive selling after the RBNZ cut its interest rate by 25 basis points from 3.25% to 3%, as widely expected.
From the RBNZ Governor’s press conference, I would single out two comments that I think created weakness in the NZD because the New Zealand economy is doing better compared to many other economies.
Comments:
🔴 Second-quarter economic activity is significantly weaker than expected.
🔴Comfortable with the NZD falling
GBPNZD Technical Analysis:
GBPNZD has now reached a strong zone and completed a harmonic downward pattern on the daily time frame.
GBPNZD has already risen by almost 280 pips today and is testing the April 2025 high
GBPNZD is still bullish and strong, but once the market absorbs the news, we could see a potential reversal over the next week.
It is very risky, so wait for the price to show clarity before the downward movement starts to take shape.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
The New Zealand Dollar faced aggressive selling after the RBNZ cut its interest rate by 25 basis points from 3.25% to 3%, as widely expected.
From the RBNZ Governor’s press conference, I would single out two comments that I think created weakness in the NZD because the New Zealand economy is doing better compared to many other economies.
Comments:
🔴 Second-quarter economic activity is significantly weaker than expected.
🔴Comfortable with the NZD falling
GBPNZD Technical Analysis:
GBPNZD has now reached a strong zone and completed a harmonic downward pattern on the daily time frame.
GBPNZD has already risen by almost 280 pips today and is testing the April 2025 high
GBPNZD is still bullish and strong, but once the market absorbs the news, we could see a potential reversal over the next week.
It is very risky, so wait for the price to show clarity before the downward movement starts to take shape.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.