Sasha Singh
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NZD ready for a decline

NZD today strengthened a little bit against USD but the pair is ready for a significant move in any direction. On the 1 hour chart of NZDUSD there is a wedge which is giving a signal that the pair is ready for some significant move. NZD found support after the China’s manufacturing data came out which was in line with the economist’s expectations. Emerging market crisis continues to support the demand of US dollar so maybe we could see a downfall in NZDUSD. A separate report US ISM manufacturing PMI is coming out which will definitely be driving  the movement of the pair.