What will happen to the one of the main indices - S&P500
NZD/USD: outlook for March 27-31
Kiwi dollar slid to 0.6995 in the past week amid bad NZ trade balance data and higher USD. The Reserve Bank of New Zealand kept interest rates and its present monetary policy stance unchanged having failed to provide a boost for the domestic currency.
Next week economic calendar for NZD/USD currency pair will be light. The main focus will likely be on the US political news, mainly on Trump’s fiscal and trade policies. The background will be created by the US dataset (CB consumer confidence, final GDP, unemployment claims) and Fed speakers. On Friday, pay closer attention to the business confidence report coming out of New Zealand at 2:00 am (MT time).
The technical outlook for NZD/USD currency pair is bearish. Kiwi rollbacked from the key resistance line at 0.7090 towards 0.7005. A break of the support at 0.6990 might send prices towards 0.6920 (50% Fibo level traced from last-year low). On the upside, the immediate resistance can be found at 0.7050, 0.7140.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…