The New Zealand Dollar (NZD) is under pressure due to concerns about the country's economic growth, exacerbated by bearish technical indicators and the US Dollar's strength. Recent data showing negative growth in New Zealand, with GDP contracting by 0.1% in Q4 2024, suggests a recession. Despite this, the Reserve Bank of New Zealand (RBNZ) has not ...
USD/JPY: dollar going to negative area
2019-11-11 • Updated
Technical levels: support – 190.30, 108.90; resistance – 109.60, 109.90.
Trade recommendations:
- Sell — 109. 50; SL — 109.70; TP1 — 108.90; TP2 — 108.50.
Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen and the falling lines; Dollar is going to new lows and may breakdown the support of the Cloud.
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Ahead of the release of US February Retail Sales data, the US Dollar (USD) is showing a modest recovery. Analysts at BBH assess the potential impact of the upcoming data on the USD. A soft reading in spending could prompt another downward correction in the USD, as it might indicate a weakening consumer sentiment. Market expectations...
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