NZD/USD Charts Potential Bearish Reference Candle
The below is the daily chart of the NZDUSD. Yesterday’s candle may be a bearish reference candle (blue arrow). I.e. a candle with lower highs on either side of it. If today’s candle closes below yesterday’s low (green horizontal) than it will give weight to the bearish candle scenario. The RSI(9) is below 50 and indicative of a bearish momentum (blue rectangle). Please note that New Zealand’s CPI q/q is due to be released at 10:45 pm GMT, so caution is advised. We continue to monitor.
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