NZD/USD: entering the six-year resistance zone
The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD: 34 Moving Average acted as resistance
2019-11-11 • Updated
There's a 'Double Bottom', which pushed the market higher, but the 34 Moving Average has acted as resistance, so the price is consolidating. Also, we've got a 'Triple Top' pattern, which supposed to be the beginning of a local downward correction. Thus, we should watch the nearest important support at 0.6622 - 0.6609 as a potential bearish target. If a pullback from this area happens little later on, there'll be a moment for another upward price movement towards the previously tested resistance at 0.6666 - 0.6683.
Similar
EUR/GBP: bears eye 16-month-old support
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Cable hit record high since 2018
Jump in to get the technical analysis of EUR/GBP, GBP/USD, and gold!
Latest news
How Will Amazon Price React To The Split?
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
CONSUMPTION AND ITS INFLUENCE ON THE ECONOMY
How to understand if an economy is accelerating or decelerating? What are the indicators that can guide us in this interpretation? One of the ways in which we can assess this situation is precisely the household consumption, which fundamentally refers to…
CREDIT CYCLES IN THE ECONOMY AND THE BRAZILIAN CASE
Credit cycles (or leverage cycles) represent moments in the economy of a country when families and companies get indebted, in order to invest or to spend in different segments, which ends up positively influencing the level of the general economic…
