US Dollar Strength Bolstered by FOMC Minutes
NZDUSD Breaks Key Resistance Zone
Fundamental Analysis:
The release of the FOMC minutes today and the upcoming US CPI data on Thursday are reinforcing USD strength. Additionally, the market is anticipating a 25 basis point rate hike by the Federal Reserve at the next meeting.
Two weeks ago, Chair Powell reiterated:
We have made good progress toward restoring price stability without painful rise in unemployment.
Labor conditions are solid, labor market roughly in balance.
The Fed is not in a hurry to cut rates quickly, will be guided by data
Technical Analysis:
Recently, NZDUSD broke down from a strong daily structure area near 0.6110. This was a significant key zone, and the price has been moving downward without pausing.
The next support zone is near 0.6000, and a move below this area could push NZDUSD to new lows around 0.5930
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
NZDUSD Breaks Key Resistance Zone
Fundamental Analysis:
The release of the FOMC minutes today and the upcoming US CPI data on Thursday are reinforcing USD strength. Additionally, the market is anticipating a 25 basis point rate hike by the Federal Reserve at the next meeting.
Two weeks ago, Chair Powell reiterated:
We have made good progress toward restoring price stability without painful rise in unemployment.
Labor conditions are solid, labor market roughly in balance.
The Fed is not in a hurry to cut rates quickly, will be guided by data
Technical Analysis:
Recently, NZDUSD broke down from a strong daily structure area near 0.6110. This was a significant key zone, and the price has been moving downward without pausing.
The next support zone is near 0.6000, and a move below this area could push NZDUSD to new lows around 0.5930
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.