Fundamentals: New Zealand's upside surprises in growth data, the stabilization of dairy prices and its expansionary fiscal measures are over. These things have propped up the kiwi. With these things moved out of the way, the focus of banks will be bearish on the kiwi. I believe that oil prices will rise to $100. Also, I believe that the relative to New Zealand, Canda has more economic strength.
Technicals: Med. PBS dHd downward sloping tl + horizontal resistance rejection first pb of new trend engulfing bearish pattern NR4 and IB Bars last week and this week MACD-Ichimoku agrees with the new trend slow channel down
Trade Plan: Short NZD/CAD with a stop above weekly resistance of 0.8425 or 0.8250. Target: 0.7825