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April 13, 2017

NZDUSD – New Zealand Broke Crucial Resistance Vs US Dollar

Key Points

The 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.

Later, [...]

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November 30, 2016

AUDNZD – Aussie Dollar Remains in Downtrend Vs Kiwi Dollar

Key Points           

The 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 [...]

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October 18, 2016

NZDUSD – New Zealand Dollar Looking For Break Above 0.7200?

Key Points

The 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.

The [...]

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May 4, 2015

Forex Weekly Outlook – 5th to 9th May

This past week belonged to the US Dollar sellers and the best performer was the Euro, which traded above a major resistance of 1.1250. Looking ahead, the 1.1100 support area might act as a major barrier for the Euro sellers in the short term.

Fundamentals

First of out of Europe this coming week will be the Manufacturing Purchasing Managers Index (PMI) by the Markit Economics for the Euro Area, Germany, France and Italian. The data for April is forecasted to remain stable, and if it stays in line with the forecast more gains are likely for the shared currency.

In Australia, the RBA Interest Rate decision is lined up in which the central bank is expected not to cut [...]

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