OctaFX | OctaFX Forex Broker
Open trading account

Forex: NZD/USD operating near session los at 0.8230

FXstreet.com (Barcelona) - The NZD/USD has edged lower Tuesday, after overnight highs of 0.8270. During European trading however, the pair found itself in a tailspin, gradually inching downwards and establishing an intraday minimum 0.8230, where the cross is presently residing. At this juncture the pair is -0.38% off its opening.

According to Mark De La Paz, an analyst at FX Instructor, “The NZD/USD has a bias for the sell-side – hourly charts also have a bearish engulfing confirming market direction though proximity to a moderate support at 0.8231, which suggests we should wait for a close below it before jumping short. The immediate target of any sell-off is the 0.8199 break, followed by 0.8181.”

De La Paz points to supports at 0.8231, ahead of 0.8199, and finally 0.8181. On the ascension, resistive measures will be implemented at 0.8249, ahead of 0.8282, and finally 0.8299.

Later this evening at 21:45 GMT, New Zealand is slated to release economic data, including the Current Account figures, which are expected to continue a negative trend in Q4.

Canada: Wholesale Sales disappoint at 0.3% in January

The rise in wholesale sales in Canada didn’t go as high as the expected 0.4%, coming in at 0.3% after December’s drop of -1.1% (revised from -0.9%). Manufacturing shipments eased from -3.3% (revised from -3.1%) to -0.2%, against expectations of +0.9%.
Read more Previous

Forex: USD/CAD climbs to session high after US data

The Canadian dollar is rapidly depreciating against the greenback on Tuesday, after US Building Permits and Housing Starts exceeded expectations during February, confirming the positive momentum of...
Read more Next
Start livechat