FxWirePro: NZD/USD interim uptrend halts on streaks of bearish patterns – Trading & hedging setup ahead of RBNZ
FxWirePro: NZD/JPY Interim Rallies Seem Deceptive, Major Downtrend Still Intact In Falling Wedge – Trading & Hedging Setup
FxWirePro:GBP/NZD resumes downside after failing to break above 21 DMA
• GBP/NZD dipped on Monday as concern UK may be heading towards hard Brexit weighed on sterling.
• At GMT 16:54, the pair was trading down 0.83 percent at 1.9180 after reaching daily low at 1.9144.
• UK June inflation figures are due on Wednesday, with annualized CPI forecast to match May's four-year low of 0.5% .
•A CPI miss would be a boost for doves advocating more quantitative easing from the Bank of England, that may put further downside pressure.
• Technicals are favouring bearish sentiment as RSI is at 38 and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.9180 (38.2% fib), any close above will push the pair towards 1.9250 (21 DMA)
• Support is seen at 1.9148 (Daily low ) and break below could take the pair towards 1.9029 (23.6% fib).
Recommendation: Good to sell around 1.9180, with stop loss of 1.9300 and target price of 1.9080