Suite 11, Second Floor, Sound Vision House, Francis Rachel Str. We could see some volatility later today in reaction to the Wage Price Index data from Australia and the slew of economic data from China. This article was originally posted on FX Empire. The main range.6784.6531. A trade through.6686 will change the main trend. Although weve seen a technical bounce, a rally has been unable to gain traction with traders pricing in another rate cut for later in the year, and amid renewed trade tensions between the United States and China. On Tuesday, the, nZD/USD settled.6574,.0007.11. At 00:49 GMT, the Forex pair is trading.6572, down.0002 or -0.03. A move through.6531 will signal a resumption of the downtrend. This could trigger a quick break into the next downtrending Gann angle.6549.
AUD nZD - Live Rate, Forecast, News and Analysis
If the main trend changes to up then look for the rally to possible extend into its retracement zone.6735.6783. Read the rest of this entry. Bearish Scenario, a sustained move under.6564 will signal the presence of sellers. Since the main trend is down, sellers are likely to come in on a test of this zone. If.6531 fails as support then look for an eventual break into the October 16, 2018 main bottom.6465.
The move suggests investor indecision and impending volatility. Crossing to the weak side of this angle will put the NZD/USD in a bearish position with the next target the minor bottom.6531. Bullish Scenario, holding above the downtrending Gann angle.6564 will indicate weak buying. This could trigger an eventual rally into the short-term 50 level.6658. The minor trend is also down.
NZD /USD Forex Technical Analysis May 15, 2019 Forecast
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