FxWirePro: Kiwi strengthens against major peers on solid GDP data
AUD/NZD is currently trading around 1.0935 marks. Pair made intraday high at 1.0998 and low at 1.0921 marks. Intraday bias remains bearish till the time pair holds key resistance at 1.1058 mark. A sustained close above 1…
Pair made intraday high at 1.0998 and low at 1.0921 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1.1058 mark.
A sustained close above 1.0977 will drag the parity higher towards key resistances at 1.1058/1.1175/1.1268/1.1422/1.1526 levels respectively.
Alternatively, a daily close below 1.0977 will take the parity down towards key supports around 1.0844/1.0782/1.0658/1.0572/1.0502 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
New Zealand Q2 2018 GDP prod based qq, sa increase to 1 % (forecast 0.7 %) vs previous 0.5 %.
New Zealand Q2 2018 GDP prod based yy, sa increase to 2.8 % (forecast 2.5 %) vs previous 2.6 % (revised from 2.7 %).
