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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.
NZD TECHS
- The NZD has traded sharply lower today with NZD/USD slipping at the fastest rate since March to put the pair in close proximity to the late July lows of 0.6902 and the Jul 20 low of 0.6881.
- From a technical viewpoint, trend conditions are bearish and today's move lower suggests further weakness is likely near-term.
- A break of 0.6881 would confirm a resumption of a bearish cycle that started late February.
- Key NZDUSD levels to watch are:
- SUP 1: 0.6798 Sep 18, 2020 high
- SUP 2: 0.6703 38.2% of the Mar '20 - Feb bull run
- RES 1: 0.7028 Today's intraday high
- RES 2: 0.7105 High Jul 6 and the short-term key resistance
- GBPNZD has traded sharply higher today too and is approaching the psychological 2.00 handle and the bull trigger at 2.0069, Jul 28 low. If topped, the cross would trade at the highest levels since August 2020, with 2.0272 the next upside level, Aug 20, 2020 high.
- Today's sharp rally in AUDNZD means key support at 1.0418, Dec 1, 2020 low remains intact. The cross is challenging the 20-day EMA at 1.0527, a clear break would open the 50-day EMA at 1.0608.
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.
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