Friday, May 22, 2015

The Kiwi keeps struggling with the 0.7300 level

The New Zealand Dollar versus the US Dollar has come back to the downside after the inflation data out of the US propelled the greenback versus its major counterparts. On the daily chart of the NZD/USD we can see that during the last three days the pair has found a good support around the 0.7300 level. Due to the various occasions in which the price has visited that 0.7300 level, the probabilities of seeing a breakdown have risen. If a breakdown of the 0.7300 is confirmed, then the bearish momentum may accelerate the price to the 0.7200 level.


at

9 comments:

Subscribe to: Post Comments (Atom)

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...

  • The USD/CAD in consolidation mode
    The USD/CAD gets tangled between the 21 day EMA and the 55 day EMA, also between the 1.2800 and the 1.3000. From this point the pair may go...
  • Gold continues consolidating
    The price of gold is still consolidating as shown on the daily chart between the 1281 as support and the 1304 as resistance. At the 1304 lev...
  • Pullback to a key level on the EUR/USD
    The EUR/USD has been very volatile lately, but it has not taken a clear a direction. The pair has been consolidating between the 1.2300 leve...