NZD/USD
Let’s start analyzing this fascinating pair, earlier this week, the New Zealand dollar continued strengthening, you can clearly see it on our daily chart.
After rising by about 178 pips the New Zealand dollar moved to its highest point since the 21st of august 2008.NZD/USD has bounced from 0.1737 to previous levels close to 0.7281. Currently the pair is trading in the uptrend range between 0.7185 to 0.7281over a daily chart, it is important to note that there is a strong resistance point at 0.7310.
This pair is a wonderful pair for trend traders, we can find some opportunities by continuing to trade with this pair. Let’s convert yesterday’s movements to profits.
Resistances-0.7270-0.7310
Supports-0.7230-0.7200
Fundamentals: We have a few announcements/meetings today which will affect the market.
Coming from U.K we have the “MPC Meeting Minutes”. (09:30 GMT) One more announcement coming in from The US “Federal Open Market Committee” which will be released at 19:15 GMT. At the same time we have Federal Open Market Committee Statement.
