NZDUSD Probing Key Floor Ahead of MidMonth Chinese Data Dump

Matt Weller
Escrito por : ,  Jefe de Investigación de Mercados

Markets are trading with a slight risk-off tone as we go to press, with the US dollar clocking in as the strongest major currency while aussie and kiwi bring up the rear.

Today’s drop in NZD/USD leaves the pair at a particularly interesting level: rates are testing critical previous support and their 3-month lows around 0.6720. A break and daily close below this level (ideally accompanied by a corresponding breakdown in the RSI indicator) could open the door for another leg lower, with bears potentially targeting the 61.8% Fibonacci retracement of the Q4 rally near 0.6630 next:

Source: TradingView,

From a fundamental perspective, there’s little in the way of direct US or New Zealand data on tap, but China’s mid-month data dump will have a major impact on the kiwi. Readers should keep a close eye on China’s trade balance figure ahead of the weekend, as well as the GDP report over the weekend and Industrial Production figures in Wednesday’s Asian session.

Tags relacionados forex China NZDUSD forex

Es fácil comenzar a operar

La apertura de una cuenta con nosotros es un proceso rápido y sencillo. Solicite una cuenta en línea en cuestión de minutos a través de nuestro formulario de solicitud simple y seguro.

Plataforma Web Trader

Nuestra sofisticada plataforma web está repleta de funciones.

Calendario económico