nzd/usd

This pair has been stuck on the 50% fib level taken from the highs of the 28th October and the lows of 25th November this year for the last 6 days.On the upper side is the 50 day moving average acting like resistance at the moment.The RBNZ statement yesterday has not set the pace for direction .The indecision candles are huge and have held the pair at this level for more than a week of trading.Lets wait and see how it all pans out.

NZD/JPY which more or less moves correlated with the Nzd/Usd pair is also caught up in the same area.

I will be watching these two pairs closely for any news or indicators for direction.A break may be big in either direction depending on news from either the Euro zone area or from the US.