Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/NZD capped at 50-DMA (1.9215), good to go long on break above

  • GBP/NZD is extending upside after break above 5-DMA on daily charts, bias higher.
     
  • Kiwi largely ignores improvement in milk prices at GDT auction overnight. The Global Dairy Trade Price Index gained 2.2 percent at the first auction of the year.
     
  • Subdued dairy supply outlook as Fonterra dropped its forecast for NZ milk collection for second consecutive month weighed.
     
  • The pair has cooled off from highs, is currently trading at 1.9175 after hitting highs of 1.9214.
     
  • Stiff resistance seen at 50-DMA at 1.9215. Breakout could see further upside.
     
  • Technical studies are turning slightly bullish, but bearish divergence on RSI and Stochs keeps scope for downside.

Support levels - 1.9147 (23.6% Fib retrace of 1.9838 to 1.8933 fall), 1.9058 (5-DMA), 1.8883 (38.2% Fib retrace of 1.73375 to 1.98383 rally)

Resistance levels - 1.9215 (50-DMA), 1.92488 (23.6% Fib retrace of 1.73375 to 1.98383 rally), 1.9279 (38.2% Fib retrace of 1.9838 to 1.8933 fall)

Recommendation: Good to go long on break above 50-DMA at 1.9215, SL: 1.9145, TP: 1.9250/ 1.9280/ 1.9330.

FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at 108.887 (Bullish), while Hourly NZD Spot Index was at -30.6531 (Neutral) at 0600 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 22 14:30 UTC Released

USECRI Weekly Annualized

Actual

3.1 %

Forecast

Previous

2.7 %

June 22 14:30 UTC Released

USECRI Weekly Index

Actual

150.1 %

Forecast

Previous

149.3 %

January 31 00:00 UTC 207553207553m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 207553207553m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 219373219373m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 207553207553m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 219373219373m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 207553207553m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 207553207553m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 207553207553m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.