Analytics

Forex News

Forex

NZD/USD off day’s peak, still holding in green at 0.6790

11:46 23 May /2016 Forex

The NZD/USD pair extended its last week's recovery from 100-day SMA support and from over 2-month low of 0.6710 for a second trading session on Monday.

The pair on Monday rose to 0.6800 handle before retracing few pips to currently trade at 0.6790, up around 0.4% for the day. The pair gained despite of the prevailing risk-off sentiment across various asset classes. Receding speculations of an imminent RBNZ rate-cut could have been the catalyst for pair's up-move on Monday.

From technical perspective, the pair has been oscillating within a broad trading range between 50-day and 100-day SMA region. Hence, it would be prudent to wait for a decisive break through the current trading range before confirming the pair's near-term direction.

Technical levels to watch

On a sustained trade above 0.6800-0.6810 immediate resistance, the pair seems to head towards testing the upper end of the trading range resistance at 50-day SMA, currently near 0.6835-40 region. A decisive strength above 50-day SMA resistance seems to pave way for an immediate up-move towards 0.6885 resistance.

On the flip side, weakness below 0.6765 immediate support seems to drag the pair immediately towards 0.6740 and the fall could further get extended back towards the very important 100-day SMA support near0.6720-15 region. A clear break below 0.6700 handle now seems to trigger a fresh wave of near-term weakening trend for the pair.

to other news

all news
Economic outlook for the day ahead: RBA in focus - Westpac

Analysts at Westpac offered an economic outlook for the day ahead.Key Quotes:"Australia: Feb RBA meeting minutes are released, which should mirror recent upbeat commentary. Given February is a SOMP month, it is unlikely for anything extra to be revealed in the minut

23:00 20 February /2017 Forex

Greece: Misses Another Bailout Deadline as Talks Set to Resume - Bloomberg Jose Ricaurte Jaen

According to the latest wires, via Bloomberg, Euro-area finance ministers on Monday poured cold water on a quick disbursal of new aid payments, with Athens and its creditors agreeing to pick up discussions in the coming days.Key Highlights:•After months of disagreements, European cr

23:00 20 February /2017 Forex

Gold inter-market: XAU/USD holds near 2017 highs despite yields Matías Salord

Gold has been rising constantly since the beginning of the year while US bond yields are currently at the same levels they had at the beginning of the year. During the third and fourth quarter of last year, the correlation between gold and yields was e

22:46 20 February /2017 Forex