Free Trial

NZDUSD trades 15 pips softer at 0.7265,........>

KIWI
KIWI: NZDUSD trades 15 pips softer at 0.7265, while AUDNZD is 25 pips better off
at 1.0585. The NZ domestic docket looks thin throuygh to the end of next week.
- NZDUSD's break of 0.7315 has lacked follow through, with bulls needing a close
above the high from April 05 (0.7322) to confirm focus on 2018 highs. The 21-DMA
(0.7256) more or less held on the earlier break lower, with bears needing a
close below hourly support from Apr 03 (0.7243) to confirm a break of the 21-DMA
& to shift initial focus lower.
- AUDNZD's fresh 2018 lows reconfirmed 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 needing
a close above 1.0601 to ease immediate bearish pressure.
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.