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[QUOTE="Antony_NPBFX, post: 216513, member: 38727"] [size=5][b]NZD/USD: the instrument develops corrective growth 09.01.2023 [/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] The New Zealand dollar shows steady growth during the Asian session, updating local highs from December 19. The NZD/USD pair is testing 0.6400 for a breakout, and investors continue to actively sell the American currency after the publication of statistics on the US labor market last Friday. In December, the American economy created 223.0 thousand new jobs, which turned out to be 23.0 thousand better than analysts' forecasts, while the Unemployment Rate fell from 3.6% to 3.5%, contrary to forecasts of growth to 3.7%. Hourly Earnings in annual terms slowed down from 4.8% to 4.6%, while analysts expected it to accelerate to 5.0%, and in monthly terms the indicator slowed down from 0.4% to 0.3%. Investors expect that the released data will push the US Federal Reserve to soon ease monetary policy. Earlier, the regulator announced its readiness to raise the interest rate one or two more times in the range of 25-50 basis points at the beginning of 2023, after which it will probably take a wait-and-see attitude. At the same time, the latest minutes of the US Federal Reserve indicated the unwillingness of board members to consider a scenario with a decrease in the rate this year. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly expanding from above; however, it has not kept up with the "bullish" activity on Friday and Monday. MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic grows more steadily but is rapidly approaching its highs, which reflects risks of the overbought New Zealand dollar in the ultra-short term. Resistance levels: 0.6400, 0.6450, 0.6500, 0.6535. Support levels: 0.6350, 0.6288, 0.6250, 0.6200. [img]https://i.ibb.co/wJ8Fcmg/NZDUSD-090123-33.png[/img] [img]https://i.ibb.co/JjCCTb2/NZDUSD-090123-333.png[/img] [b] Trading tips [/b] Long positions can be opened after a breakout of 0.6400 with the target of 0.6500. Stop-loss — 0.6350. Implementation time: 1-2 days. A rebound from 0.6400 as from resistance, followed by a breakdown of 0.6350 may become a signal for opening of new short positions with the target at 0.6250. Stop-loss — 0.6400. [b]Use more opportunities of the NPBFX analytical portal: economic calendar[/b] Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website. 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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