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[QUOTE="Antony_NPBFX, post: 200556, member: 38727"] [size=5][b]NZD/USD: consolidation after last week's growth 18.10.2021 [/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url] offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] NZD is showing ambiguous trading performance against USD during this morning session, consolidating at 0.7070. The trading instrument has already managed to update the local highs of September 16, responding to the publication of strong macroeconomic statistics from New Zealand. Business NZ PSI in September rose from 35.4 to 46.9 points, which was better than the market average forecasts. The Consumer Price Index for Q3 2021 added 2.2% QoQ, showing a significant breakthrough from the previous 1.3% QoQ, while analysts hoped it only to strengthen within 1.4% QoQ. On an annualized basis, price growth accelerated from +3.3% YoY to a record +4.9% YoY, outstripping the already bold forecasts of a 4.1% YoY increase. Investors believe that such a strong surge in inflationary pressures in the country will force the Reserve Bank of New Zealand (RBNZ) to speed up decisions on changes in the country's monetary policy. However, it is worth recalling that the New Zealand regulator was one of the first to raise the key rate by 0.25% in early October. [b] Support and resistance [/b] Bollinger Bands in D1 chart show stable growth. The price range is expanding but it fails to conform to the development of "bullish" sentiments at the moment. MACD is also growing, maintaining a strong buy signal, being located above the signal line. Stochastic, having approached its highs, is also trying to reverse into a descending plane, indicating the risks of overbought NZD in the ultra-short term. Resistance levels: 0.7100, 0.7150, 0.7200, 0.7250. Support levels: 0.7040, 0.7000, 0.6950, 0.6900. [img]http://businesspr-finance.com/wp-content/uploads/2021/10/NZDUSD181021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/10/NZDUSD181021-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 0.7100. Take-profit – 0.7200. Stop-loss – 0.7040. Implementation time: 1-2 days. A rebound from 0.7100 as from resistance followed by a breakdown of 0.7040 may become a signal for new sales with the target at 0.6950. Stop-loss – 0.7100. [b]Use more opportunities of the NPBFX analytical portal: analytics[/b] You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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