Hello colleagues. Yesterday the Fed caused quite a stir. The US dollar strengthened significantly on the news. Because of this, the New Zealand dollar in the NZD/USD pair took a hit and plummeted. The drop was significant. The bears mercilessly took out all the longs, pushing the quotes down to 0.57856. Today at 15:30 we are expecting a fresh batch of statistics from the States. They will release the Philly Fed Index and the number of initial jobless claims. I don't expect a significant impact on NZD/USD from these data. But if the numbers turn out strong, it will fuel the US dollar and crush the kiwi even further. Looking at the H1 market profile, all the major traded volume is hanging high up. The range of 0.5815–0.5845 has now turned into a solid resistance wall for NZD/USD. Below it, there is absolute emptiness and a vacuum. Shorting the instrument right from current levels is madness. The basement indicators are deeply oversold and need a breather. I am waiting for a local pullback upwards for relief. I will be monitoring the pair around the mirror level of 0.5815–0.5822. If we get a clear bounce down when testing these volumes, I will enter short positions. The nearest target is the round level of 0.57495.
