Free Trial

NZD continued to trade heavily on Tuesday,.....>

KIWI
KIWI: NZD continued to trade heavily on Tuesday, largely ignoring the stronger
than expected result at the latest GDT auction. Focus is on Thursday's NZ CPI
release. NZDUSD last at 0.7333, trading 10 pips or so softer thus far.
- Daily studies are now at modestly overbought levels & hesitation ahead of last
week's high is less than ideal for bulls. Overall bulls look for a close above
the low from July 28 2017 (0.7458) to confirm focus on the 2017 highs. The high
from 06 April (0.7324) continues to act as support. Bears still need a close
below this level to ease bullish pressure and below the low from April 06
(0.7241) to confirm focus lower.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.