-On Monday we had a higher than expected quarterly inflation figure. A drop would have added pressure on the RBNZ with regards to cutting rates once more.
– Yesterday we had the Global Diary Trade which reflects fluctuations in the price of milk as it is important to the kiwi. with the last release seeing a 3% drop, a 1.4% increase was seen yesterday.
-The green and red long horizontal rectangles are drawn in to show resistance and support lines.
-The green being my support and red being my resistance.
– Bulls look for buy opportunities on the support levels and bears for sell opportunities on resistance levels.