Resumption of uptrend in NZD/USD or squeeze until further fall?
Technically Speaking
The pair has found resistance at the 100 DMA following a better than expected CPI release. Further technical levels are the 38.2% retracement, which is by a big round number 72.
If you are looking to short, I would use the 100 DMA and the 38.2% retracement as levels to watch.
If you are looking to go long, I would to see if the 71 level held as support on a retest.
Fundamentals
The GDT price index comes out sometime tomorrow So a heads up if you are planning to trade within the next 24 hours. I have seen no reaction and serious volatility after this release. So please be aware and make sure your stops are in.
The pair has found resistance at the 100 DMA following a better than expected CPI release. Further technical levels are the 38.2% retracement, which is by a big round number 72.
If you are looking to short, I would use the 100 DMA and the 38.2% retracement as levels to watch.
If you are looking to go long, I would to see if the 71 level held as support on a retest.
Fundamentals
The GDT price index comes out sometime tomorrow So a heads up if you are planning to trade within the next 24 hours. I have seen no reaction and serious volatility after this release. So please be aware and make sure your stops are in.
