Sunday, 25 August 2019 09:10 GMT
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NZD/USD outlook: the price is above the important resistance at 0.6600




(MENAFN - FXOpen) The fateful meeting of the American Fed continues to haunt the markets. Commodity currencies grabbed their portion of the general upward drive in the foreign exchange market. So, the NZD/USD pair formed a "bullish harami" combination on the daily timeframe after a dip below 65. Buyers managed to take this signal in testing and at the moment the price is above the important resistance at 0.6600. However, there is an important range of 0.6700-0.6660 ahead of the price. If the price strengthens higher, the development of the “double bottom” figure is activated with a potential profit of 0.6850-0.6800.

The incoming data helps to restore the "Kiwi". Today's data on the trade balance of New Zealand showed impressive growth: 264M against 200M. At the same time, buyers of the New Zealander should not relax. Tomorrow, in the early morning, a meeting of the RBNZ will be held, at which the value of the base interest rate will be announced, followed by a press conference. If New Zealand officials follow the example of the Fed, then the growth of the pair can be forgotten for a long time.

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NZD/USD outlook: the price is above the important resistance at 0.6600

FXOpen

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