NZDUSD appears to be setting up a nice H&S pattern on the 4 hr chart. RBNZ's Wheeler and Co. are stressing the high exchange but have yet to take any monetary policy action (not that it is required). NZD pairs continue to stay choppy, but the NZDUSD is a good barometer for the entire basket. If this H&S plays out, we could see NZD weakness across the board. This setup and others are discussed LIVE and On-Demand at Daytraders FX.
