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Old 25-06-2019, 11:57
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Default Re: Tifia Daily Market Analytics

NZD/USD: Current Dynamics

NZD / USD is trying to develop an upward trend caused by the weakening of the USD. On Monday, US President Donald Trump resumed criticism of the Fedís monetary policy actions, tweeting that "they are like a stubborn child, while we need lower rates and a softer policy to compensate for other countriesí actions against us".
Combined with Trumpís criticism, the soft rhetoric of the Fedís leadership, and amid weak macro statistics recently coming in from the US, the US dollar has dropped significantly in the foreign exchange market. The DXY dollar index fell 1.85% last week to 95.72. The weekly drop in the index was the strongest since February 2018.
Nevertheless, the current growth of NZD / USD is more like an upward correction, rather than replacing the global downtrend with an uptrend.
Below the key resistance level of 0.6720 (ЕМА200 on the daily chart) a long-term bearish trend prevails, starting at 0.8820 in July 2014. In view of this, a rebound is possible from the resistance levels of 0.6685, 0.6720.
The return of NZD / USD to the zone below support level 0.6605 (ЕМА50 on the daily chart) will be a signal to resume sales with targets at support levels 0.6430 (2018 lows), 0.6260 (Fibonacci level 0% and lows of the global decline wave from 0.8820, which started in July 2014).
Support Levels: 0.6605, 0.6585, 0.6560, 0.6490, 0.6430, 0.6400, 0.6300, 0.6260
Resistance Levels: 0.6685, 0.6720, 0.6800, 0.6865, 0.6920

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