Free Trial
KRW

Won Rallies More than 1%

JGBS AUCTION

Japanese MOF sells Y4.7714tn 3-Month Bills:

JGBS

Long End Leads The Morning Bid

US TSYS

Very Modest Bid Seen

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Bearish Cycle Extends

NZD TECHS

The Kiwi has weakened today and against the USD has once again resumed the downleg following the recent reversal from the 0.7465 February high.

The NZDUSD chart appears decidedly bearish.

  • Today's move lower has resulted in a breach of support at 0.7100, Mar 5 low confirming a resumption of the bearish cycle that has dominated since Feb 25.
  • The move lower also reinforces the bearish significance of the recent trendline break, drawn off the Mar 19, 2020 low. The break occurred on Mar 4 and this former resistance line has since capped recent gains. The break has confirmed an important reversal.
  • Attention turns to the first retracement level of the rally between Mar 16, 2020 and Feb 25 - 23.6% at 0.6994.
  • Key resistance has been defined at 0.7269, the Mar 18 high.


MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.