Key PointsThe New Zealand Dollar surged higher recently and broke a major resistance near 0.6980. The NZDUSD pair also broke a bearish trend line with resistance at 0.6950 on the hourly chart. Today in New Zealand, the Business NZ PMI for April 2017 was released by the Business NZ. The outcome was above the forecast, as there was a rise from the last revised reading of 55.7 to 57.8. NZDUSD Technical Analysis
The New Zealand Dollar made a nice upside move after trading as low as 0.6909 against the US Dollar. During the upside move, the NZDUSD pair broke the 21 hourly simple moving average and a bearish trend line with resistance at 0.6950 on the hourly chart.
Key PointsThe Aussie dollar declined recently against the Kiwi Dollar and traded below 1.0480. There is a bearish trend line formed on the hourly chart of AUDNZD, acting as a resistance for the pair. Today in New Zealand, the Business Confidence was released by the ANZ. There outcome was a bit lower, as there was a decline from the last reading of 24.5 to 20.5 in Nov 2016. AUDNZD Technical Analysis
The Aussie dollar was seen struggling recently against the Kiwi dollar, as it declined below a couple of support levels like 1.0540 and 1.0480. The AUDNZD pair recently attempted to correct higher, but failed to break a bearish trend line formed on the hourly [...]
Key PointsThe New Zealand Dollar is currently facing resistance near 0.7080 against the US Dollar. There is a crucial breakout pattern formed on the hourly chart of NZDUSD with support on the downside at 0.7050. Today during the Asian session, the MNI China Business Sentiment Indicator was released. The outcome was better than the forecast, as there was an increase from 52.2 to 53.1 in November 2016. NZDUSD Technical Analysis
The New Zealand dollar traded higher recently towards the 0.7080 level against the US Dollar. However, the NZDUSD pair faced sellers near the stated level, and the pair is currently trading lower.
There is a breakout pattern formed [...]
Key PointsThe New Zealand dollar traded higher during the Asian session to test the 0.7200 level against the US Dollar. There is a major bullish trend line on the hourly chart of NZDUSD, which may act as a support at 0.7160 on the downside. Today, the New Zealand Consumer Price Index was released by the Statistics New Zealand. The outcome was above the forecast of +0.1%, as it came in at +0.2% in Q3 2016. NZDUSD Technical Analysis
The New Zealand Dollar was all bullish during the past couple of sessions versus the US dollar, as it traded above the 0.7160 resistance. There was a test of the 0.7200 handle, where sellers appeared and currently preventing gains.