NZD/USD breaks below strong support at 0.6425, short rallies

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
280 1 8
Kiwi slumped in the Asian session as data showed inflation fell 0.5% in the December quarter, much weaker than the market forecast of a 0.2% drop.

The annual change in the CPI             was just a 0.1% increase, the weakest rise in more than 15 years, mainly due to lower fuel prices, way away from RBNZ's target.

As inflation continues to miss the bank's target, expectations rise for another RBNZ rate cut further weighing on the kiwi.

NZD/USD             has broken below strong support at 0.6425, drop till 0.6240 likely, Techs point south

The pair finds immediate resistance at 0.6433 (5-DMA), while supports on the downside are located at 0.6311 (Sept 17 lows) and then 0.6243 (Sept 7 lows).

We would sell rallies around 0.64 levels, SL: 0.6490, TP1: 0.6310, TP2: 0.6290, TP3: 0.6240
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out