Technicals

Add as a preferred source on Google

FxWIrePro: NZD/USD intraday bias higher, good to go long on dips

According to an ANZ survey yesterday, New Zealand business confidence soared to a six-month high in June. The ANZ composite growth indicator that combines consumer as well as business confidence is giving a solid mandate…

1 min read
FxWIrePro: NZD/USD intraday bias higher, good to go long on dips
Image from the original EconoTimes article

Read the original article

  • According to an ANZ survey yesterday, New Zealand business confidence soared to a six-month high in June.
     
  • The ANZ composite growth indicator that combines consumer as well as business confidence is giving a solid mandate for growth. 
     
  • That said, the RBNZ released its annual statement of intent on Wednesday in which it reiterated that further easing could still be required.
     
  • New Zealand Finance Minister English said Brexit may increase the attractiveness of NZ dollar and if things worsen significantly, the RBNZ has room for a rate cut.
     
  • Technically, NZD/USD is trading with a bullish bias, momentum is with the bulls. RSI and Stochs point north.
     
  • The pair has bounced off 20-DMA on Thursday's trade and currently finds good support by 10-DMA at 0.7119.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-finds-strong-support-at-07070-break-below-could-accentuate-downside-229635) has achieved TP1&2.
    ​

Recommendation: Good to go long on dips around 0.7145/50, SL: 0.71, TP: 0.7190/ 0.72/ 0.7220
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560