Free Trial

NZD/USD was also weighed on by the increase....>

KIWI
KIWI: NZD/USD was also weighed on by the increase in U.S.-China trade tensions
and a stronger greenback on Wednesday, last dealing at $0.6755.
- The failure at the 21-DMA ($0.6834) has resulted in a sharp sell-off and focus
back on the $0.6674-0.6741 region where the 2018 lows are situated. Bears now
look for a close at fresh 2018 lows to shift focus to the weekly bear channel
base coming in around $0.6577 today. Daily studies are well placed for a fresh
leg lower. Bulls now need a close above the July 10 low ($0.6804) to gain
breathing room.
- There is little in the way of New Zealand tier one data apparent during the
remainder of the week, so focus is likely to remain on global risk appetite
ahead of next week's Q2 CPI release.
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.