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(adsbygoogle = window.adsbygoogle || []).push({}); Economic data will move to the fore next week with several countries reporting inflation, retail sales, and flash PMI. Canada and the United Kingdom will publish CPI and retail sales figures, while in the Eurozone, the focus will be on the
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NZD/USD rises above the SMAs following rebound on 0.6500. NZD/USD has finally reversed slightly to the upside in the short term following the rebound on the more than two-and-a-half-year low of 0.6500 on Monday. Momentum indicators in the 4-hour chart though are currently supporting that positive momentum is likely to strengthen. Specifically, the
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NZD/USD eases above mid-level of Bollinger Band; looks strongly bearish in the medium-term. NZD/USD has declined in the previous session in the 4-hour chart but still remains above the mid-level of the Bollinger Band, this being a 20-period simple moving average (SMA). The RSI seems to be stalling its advance below the 50 neutral-perceived level, while the stochastic oscillator is
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(adsbygoogle = window.adsbygoogle || []).push({}); The Australian dollar will fall under the spotlight next week as a raft of data is due to be published out of Australia and the Reserve Bank of Australia holds a policy meeting. However, central bank meetings in Canada and Sweden,
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NZD/USD bounces off downtrend line; indicators signal more losses. NZD/USD has been creating a pullback since yesterday after it challenged the medium-term descending trend line near the 0.6720 resistance level. However, the pair has found immediate support at the 20-simple moving average (SMA) in the 4-hour chart and the technical indicators are focusing for
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NZD/USD pares losses after hitting 2 ½-year lows; 0.6600 resistance eyed. NZD/USD paused its steep downfall at the 2 ½-year low of 0.6543 on Wednesday, reversing higher to recover losses made earlier this week. The RSI in the 4-hour chart stretched to the upside as well and is set to test its neutral 50 level
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NZD/USD touches new 29-month bottom; sharp sell-off continues. NZD/USD is posting an aggressive bearish rally over today’s session, recording a fresh 29-month low of 0.6641. The price plunged below the lower Bollinger Band in the 4-hour chart, suggesting an extension of the downward pressure. The momentum indicators are supportive of the negative picture,
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Yesterday U.S. sanctions against OPEC member Iran officially came into effect. The sanctions were not aimed at Iran’s oil exports instead they target Iran’s U.S. dollar purchases, metals trading, coal, industrial software and auto mobiles. U.S. sanctions on Iran’s oil exports have been given a 180-day “wind-down period” and will
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NZD/USD drops below 23.6% Fibonacci; holds in a trading range in the short-term. NZD/USD has come under renewed selling pressure over the last couple of days, falling back below the 23.6% Fibonacci retracement level of the down-leg from 0.6686 to 0.7060, around 0.6775. Also, the pair is touching the lower Bollinger Band, however, it has
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It’s going to be a big week for central banks as the Federal Reserve, the Bank of Japan and the Bank of England hold policy meetings in the next seven days. Economic data will also be at the forefront with plenty of major releases, including the US jobs report and
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