Trading Outlook – NZD/USD

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Originally updated: 06:26

Status: Pending

Trading period: SHORT

Currency pair: NZD/USD

Entry: 0.7677-0.7685

Take profit: 0.7600

Stop: 0.7730

Sentiment: Bearish

Market Focus: In today’s trade set up we will be focussing on selling opportunities on the NZD/USD.

Fundamentals: The NZD fell after CPI numbers fell to lowest level for the first time in two years. The Reserve Bank of New Zealand is unlikely to make any major policy changes this year on the back of the soft numbers which should see the NZD/USD sell off further.

Technicals: Keep an eye on 0.7677 -0.7685 as this should offer short term resistance.

Stop loss could be placed at 0.7730

Target area: 0.7600

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Source:: Trading Outlook – NZD/USD

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