Free Trial

NZDUSD traded at the whim of global risk.......>

KIWI
KIWI: NZDUSD traded at the whim of global risk sentiment on Wednesday, although
its moves were more contained than those of its Antipodean cousin the AUD (owing
to Australia's additional sensitivity to the Chinese economy). NZDUSD last
trades at 0.7315, while AUDNZD deals at 1.0540.
- Support for NZDUSD emerged on dips back to the 200-DMA (0.7181), which has led
to the cross bettering the 0.7315 resistance level. Daily studies have room to
move before being overbought becomes an issue. To the downside initial support
is noted at the 55-DMA (0.7286).
- AUDNZD's fresh 2018 lows reconfirm immediate bearish focus on the long term
rising daily trend line off 2015 lows coming in around 1.0469 today.
Accumulating resistance layers add weight to the bearish case with bulls now
needing a close above 1.0601 to ease the immediate bearish impetus.
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.