Free Trial

NZD/USD operates below its long term rising....>

KIWI
KIWI: NZD/USD operates below its long term rising trend line support, last
$0.6864. Additional support is seen at $0.6850 from the YTD low, opening a
deeper move towards option linked support at $0.6800.
- MNI's FX Technical Signal Monitor continues to display a near clean sweep of
bearish sentiment indicators for NZD/USD.
- AUD/NZD's break of the key NZ$1.0697 support has so far lacked follow through
which is less than ideal for bears with daily studies at oversold levels. The
NZ$1.0759-93 resistance remains key. Bulls need a close above NZ$1.0759 to gain
breathing room and above NZ$1.0793 to shift focus back to NZ$1.0854-1.0906 where
the 200-DMA is noted. Bears now focus on a close below NZ$1.0655 to add weight
to the case for a test of NZ$1.0486-00 where the long term rising trend line is
noted.
- NZ GDP is due in 10 minutes.
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.