NZD/USD accelerated the sell-off and is very close to hit fresh new lows. Is trading in the red  and looks unstoppable right now. Price is very heavy after the RBNZ as the bears taken full control.

USD continues to increase versus the Kiwi even if the dollar index stays much below the 93.82 static resistance. The index is struggling to resume the upside movement, but maybe he needs more support from the US economy.

USDX could move sideways on the short term before will really start a broader rebound, needs to recapture more directional energy before we’ll have a reversal. Technically, the USDX could climb higher as long as will stay much above the 92.49 long term static support, is trapped below some important resistance levels, so only a breakout will signal a USD dominance.

As you already know, the Reserve Bank of New Zealand maintained the Official Cash Rate unchanged at 1.75%, matching expectations. The rate hasn’t changed since November 2016, when was reduced by 0.25%.

The Official Cash Rate is expected to remain steady in the upcoming period, Wheller sustained that another decrease is not needed.

Pay attention at the United States data in the afternoon, the figures could bring a high volatility, the greenback could jump much higher if the figures will impress.

Price plunged and erased the morning gains, you can see that has opened with a gap up, but the sellers are very strong and have closed it. NZD/USD dropped much below the 0.7324 static support and below the 0.7308 previous low and is expected to hit the fourth warning line (wl4) of the previous ascending pitchfork.

Could be attracted by the confluence area formed at the intersection between the 38.2% retracement level and the fourth warning line (wl4). A breakdown through the mentioned confluence area will accelerate the sell-off. However a rejection from the support area will signal a rebound, this scenario will take shape if the USDX will fail to climb above the 93.81 static support and if will slide again.