Levels to watch include the 1.2535 pivot. Above here resistance lies at 1.2575 then at 1.2605 and towards 1.2650. If inflation come in below expectations then it could fuel another leg lower, immediate support lies at 1.2510 then at 1.2470.
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Levels to watch include the 1.2535 pivot. Above here resistance lies at 1.2575 then at 1.2605 and towards 1.2650. If inflation come in below expectations then it could fuel another leg lower, immediate support lies at 1.2510 then at 1.2470.
Finance minister English further cited the recent moves in the AUD/NZD and the kiwi reaching levels that “no one could anticipate”.
we can notice from the chart that the pair has closed week candle under 1.2400 , that's mean the down trend is expected and the pair might head to 1.2350 then 1.2320 , however the pair made a hourly correction
the pair has closed it's daily candle under the level of 1.2600 , and that's mean that the down trend is still standing and the pair might reach 1.2530 and then 1.2500 .
Finance minister English further cited the recent moves in the AUD/NZD and the kiwi reaching levels that “no one could anticipate”.
The price action has been bearish in the very short-term, in consolidation in the short to medium term, and has been bearish in the longer medium term (since March). This move since March is in a 3rd wave down, but after an even longer term rally
Finance minister English further cited the recent moves in the AUD/NZD and the kiwi reaching levels that “no one could anticipate”.
On the other hand, the New Zealand dollar recorded its all time high early Thursday against the dollar at 0.8316, after the business confidence in New Zealand during June jumped to 46.5 from the previous 38.3, adding more signs to the cheerful outlook for the New Zealand economy.
the pair has failed in breaking 1.2500 and bounced from it , so that's mean the down trend is expected and the pair might head to 1.2430 and then 1.2400
Although a pickup in risk appetite will tend to benefit both the Aussie and the kiwi, interest rate differentials will continue to favor the Aussie. Accordingly, our bias on this scalp will be weighted to the topside despite the encompassing bearish trend.