empty
 
 
14.11.2019 01:49 AM
NZD / USD - change of priority

Good evening, dear traders! A rather rare event has occurred today: the NZD rate has not been lowered, although all the data and forecasts have indicated otherwise. The market expected a rate cut by 0.25 basis points, and as a result, the RBNZ decided to leave it at the same level. Of course, the event was unexpected at the moment, and the market reacted bullish: the NZD/USD currency pair will end the current day with strong growth. Therefore, the recommendation for this instrument is attempts to take a long position (buy), but only from a pullback.

Thus, I believe that on such a "positive" for the New Zealand currency, growth can be expected to continue from the morning impulse and the level of 0.6442 can be considered a possible target for growth - this is an important level for sellers who believe in this level as a resistance level. Now, after today's news, a very real prospect opens up to see at least a false breakdown of this level.

This image is no longer relevant

The level of 0.6369 is considered to be an intermediate level for the pullback - it would be interesting to see the pullback as such in its area.

I wish you all success in trading and great profits!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback