USDX & Kiwi by Mary McNamara

The FOMC announcement has not given much clarity to the question of just when US interest rates may start to rise. The USDX is trading a little higher but is now trading within a 4hr triangle.

USDX 4hr:

USDX4

Kiwi: the RBNZ ket NZ interest rates on hold but jawboned the Kiwi lower. Note how price is sitting just under another key level; the 0.735 level. I discussed this level previously noting its importance as a possible ‘Double Top’ neck line. Watch for any hold below this level to support a possible 1,500 pip bearish follow through move:

KiwiMonthly

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