NZDUSD Futures Update: Focus on the breakout of 0.6590
Our longer-term NZDUSD trade reached the second target at 0.65900
Inflation data that came under expectations from Australia yesterday -1.3% vs. Market Expectations 1.5% -added weight on antipod currencies. The stronger dollar index was the catalyst for the acceleration of the movement.
NZDUSD is testing 0.65900 support. RSI is oversold. We may see a minor retracement which can be used for a selling opportunity.
A firm breakout of 0.65900 would send the pair 0.65600 and 0.65300.
Our first medium-term target is 0.64600. A bullish Gartley pattern would be completed at 0.64600.
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NZDUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility