$NZDUSD - WEAK CPI POINTS TO PAIR WILL STAY RANGE BOUND Short

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Apr 20, 2015 1:38 PM

Technicals on the chart.

Fundamental thoughts.

- two consecutive quarterly falls for CPI data and petrol price had a decline of nearly 10%
- milk dairy prices on the decline
- Looking RBNZ to set a dovish tone in the near future.
- USD Rate hikes around the corner.

Reasons listed, I would safely say the pair will stay range bound.

Comments

crossmxn

⋅ Apr 20, 2015 4:02 PM

This is my weekly

weekly w/zoom

daily w/zoom

white lines are support/resistance from weekly chart
gray lines are support/resistance from daily chart

if you're looking for the pair to range I suggest you to watch closely for these 2 white lines

Any comments are greatly appreciated :)

PriceActionTrading

⋅ Apr 20, 2015 4:07 PM

great lines once again.

crossmxn

⋅ Apr 20, 2015 4:11 PM

:')

workingtraders

⋅ Apr 20, 2015 1:46 PM

Simple analysis. Please leave a comment or thumbs up if you agree. Discussion encouraged even if you hate the idea !

IvanLabrie

⋅ Apr 20, 2015 4:04 PM

Agreed, the move is nothing like the one in AUDUSD, which seems to be ready to tank.

crossmxn

⋅ Apr 20, 2015 4:15 PM

Check EURAUD

This is weekly

This is 4H

Any comments are greatly appreciated

crossmxn

⋅ Apr 20, 2015 4:19 PM

Sorry, forgot this other gray line from daily (the one which is above current price)