Kiwi has developed an inverted H&S formation where the head is a prior H&S formation indicated previously in our analysis.
The Kiwi has shown a lot of divergence on the RSI in the last month as we traded to new 52-week lows.
A popular currency pair in our Forex Analytix member chatroom today has been the GBPNZD and how we are coming into some key resistance.
A few days ago the GBPNZD came out of the downtrend, and we have successfully retested the channel breakout point at the 1.8700 level.
The EURNZD has squeezed higher as a result of risk aversion the last few sessions, but we have stalled at a downtrend line and the 88.6% Fibonacci extension ahead of the RBNZ rate decision today.
The NZDCAD has a descending wedge into a 61.8% Fibonacci level. The Descending wedge already is a signal for a bullish reversal.
A close above the 0.6700 level tomorrow may trigger a longer term double bottom setup for the pair.