NZD/USD
made yet another attempt to break below the support at 0.6670 coinciding with
the (MA)89 on the daily filter chart and although for a while it seemed that it
had succeeded, the breakout proved to be false. This is the fifth attempt to
break below this (MA)89 in the past month. I think it is still quite possible
for the pair to continue below that level, the question is whether that will
happen before or after the fundamentals on Friday. Either way, should NZD/USD
break below 0.6670 we can expect a further move to the downside at least until
it reaches 0.6600.
The dollar has better expectations in the short term amid expectations the Fed to raise rates at the end of the year or early in 2016.
ReplyDeleteA pullback before another move upward.
ReplyDeleteBears are pushing the pair lower.
ReplyDelete