Tuesday, May 5, 2015

New Zealand fundamentals disappoint

The labor market in New Zealand is weakening with less jobs created and a rising unemployment rate. The data sent the NZD/USD dropping like a rock from the 200 period exponential moving average on the 4 hour chart to the 0.7500 level. At the moment the price is trying to break below the 0.7500 level and if the breakout is confirmed, the bearish momentum may speed up and a visit to the 0.7400 is possible.


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