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23 Jun 2015
NZD/USD eblow 0.69 and in key bearish territory
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6869 with a high of 0.6871 in Asia and a low of 0.6859.
NZD/USD continues in a bearish trend, with ebbs and flows capped at the upside and lower lows printed until a little demand in early Asia on aforementioned lows. The 0.69 handle was buried from the off overnight and the price has been unable to rectify while the less committed bulls bail out by the dozen. We are printing new lows for the bird and down to test the July 2010 gaps on the weekly chart.
Fundamentally there is nothing on the calendar for NZ until later in the week and the trade balance and markets remain nervous around the recent course of action from the RBNZ's surprise cut as well as last week's release of GDP where New Zealand Gross Domestic Product (QoQ) came way below forecasts. Data this week will be mostly coming from the US.
This week starts with Durable Goods. This is a key component to the Fed's decision making process and this can be followed live here tomorrow. Then we have US GDP to cater for as next main event from the US to take note of.
NZD/USD 2010 lows still in focus
We have now moved in to very negative territory below 0.69 and the bird's bears still have 0.6800 in focus ahead of challenging June 2010 lows of 0.6793.
NZD/USD continues in a bearish trend, with ebbs and flows capped at the upside and lower lows printed until a little demand in early Asia on aforementioned lows. The 0.69 handle was buried from the off overnight and the price has been unable to rectify while the less committed bulls bail out by the dozen. We are printing new lows for the bird and down to test the July 2010 gaps on the weekly chart.
Fundamentally there is nothing on the calendar for NZ until later in the week and the trade balance and markets remain nervous around the recent course of action from the RBNZ's surprise cut as well as last week's release of GDP where New Zealand Gross Domestic Product (QoQ) came way below forecasts. Data this week will be mostly coming from the US.
This week starts with Durable Goods. This is a key component to the Fed's decision making process and this can be followed live here tomorrow. Then we have US GDP to cater for as next main event from the US to take note of.
NZD/USD 2010 lows still in focus
We have now moved in to very negative territory below 0.69 and the bird's bears still have 0.6800 in focus ahead of challenging June 2010 lows of 0.6793.