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Forex: NZD/USD falls off session highs to 0.8375/76

FXstreet.com (Barcelona) - The NZD/USD has stumbled off its intraday highs at 0.8388 in recent minutes, whereby resistance kicked in and left the pair erasing its gains. Having eased to 0.8375/76 in these moments, the cross is recording an advance of +0.10% still.

The NZD/USD is trading below its linear regression indicators, which in turn are attempting to bearish crossover with LRI 34. We cannot confirm negativity in the time being, especially as the pair failed to reside below the support at 0.8355. Therefore, we prefer to stand aside until signs of a specific direction appear.” suggests the ICN.com analyst team.

Briefing the technicals, ICN.com analysts identify corrective measures of resistance at 0.8385, then 0.8400, and finally the 0.8415 handle. Conversely, supports for the NZD/USD will initiate at 0.8355 onto 0.8310 and ultimately 0.8275.

Forex: USD/CAD around 1.0160/70 ahead of Canadian GDP

The cross is trading between 1.0155 and 1.0175 on Thursday in a context where the risk-on tone is prevailing amongst traders, as the events in Cyprus are smoothly playing out....
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Forex Flash: Good US and Canada data may press the USD/CAD lower – TD Securities

The CAD will be most excited with North American data, as Canadian January GDP and US GDP Q4 (third reading) will be released, as well as US initial jobless claims. “A soft Canadian GDP figure is well expected at this point and TD’s call for an on-consensus print of 0.1% m/m for the report does not imply a strong bias for a CAD reaction”, wrote TD Securities analysts Shaun Osborne and Greg Moore, adding that any development that is not bad news may be considered a mild positive for the CAD and could contribute slightly to the recent USD/CAD trend lower.
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