Dukascopy

NZD/USD tries to reach 0.7310

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Daily outlook - NZD/USD tries to reach 0.7310

  • The rest of the previous trading session the New Zealand Dollar expectedly spent in a gradual advance against the US Dollar , trying to reach the weekly S2 at 0.7310.

  • At the moment, it still has not reached the target even with the help from a release of information on the US CPI .
  • On the other hand, such slow movement is in line with the general market sentiment, which is only 55% bearish , as well as with the summary of various technical indicators, which projected horizontal movement.
  • It is quite possible that the pair will manage to bypass the above-mentioned resistance and jump towards the 100-hour SMA near 0.7319.
  • If the surge will be stopped at this points, that would be a final evidence of existence of a falling wedge .

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