During the European trading session on Monday, the NZD/USD exchange rate was bouncing between 0.7250 and 0.7220. The combination of the 100– and 200– hour simple moving averages was providing resistance for the price, while the level around 0.7200 is supporting the price.
In the meantime, technical indicators flash strong sell signals. However, traders are waiting for the ISM Manufacturing PMI release which is scheduled at 14:00 GMT today. This news could result in volatile market swings and thus impacting the pair in either way.
Chart: NZD/USD H4
Very helpful analysis.
ReplyDeleteThank you for the analysis.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteWll keep these levels in mind, thanks!
ReplyDeleteGood post. Very helpful.
ReplyDeleteVery detailed assessment.
ReplyDelete