NZD/USD Technical Analysis: holding near lows as RBNZ action nears

• The Kiwi is looking primed for a bullish pullback, though the pair remains overall deeply in bearish territory, and near-term buyers run the risk of coming up against renewed selling power if broader market sentiment takes a turn for the worse.
• The Reserve Bank of New Zealand is expected this week, and the run-up to the central bank event is likely to suck NZD-backed volumes out of the Kiwi-Dollar pairing.
• July saw consolidation on Daily candles, and a lack of direction will be breaking technical indicators on various timeframes.

NZD/USD Chart, 15-Minute