NZD/USD: bears in control below the 0.68 handle

NZD/USD is increasingly bearish day by day within the weekly and daily uptrend while the 0.70 handle's mid-point rejected the price and we were soon back within the channel and bears back in control. The nonfarm payrolls was the big event last week that came in and disappointed the markets yet the dollar rallied on the basis of the reality that nobody really wants to admit.

The RBNZ is expected to cut interest rates again this year, perhaps even as soon as June? - Westpac

Fed’s Evans: Fed's wait and see stance is appropriate

We await RBNZ's Wheeler this week while a number of Fed speakers have already been out on the wires today, in the main backing the Fed's current stance, while otherwise the docket is relatively quiet and could offer a period of consolidation on a lack of catalysts.

NZD/USD levels

NZD/USD bears are still in control within this rising channel established mid-January 2016. We await a convincing break below, 0.6758 to expose the April lows. On the flipside, a break of the 2016 highs, the next major target comes on the weekly sticks with Jan 2015 lows of 0.7176 ahead of the 100 weekly sma at 0.7265.