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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 209769, member: 80239"] [JUSTIFY][img]https://i.ibb.co/rkMZX2L/6.png[/img][/JUSTIFY] [HEADING=1][JUSTIFY]NZD USD - New Zealand dollar remains under pressure[/JUSTIFY][/HEADING] [JUSTIFY]The New Zealand dollar is actively falling during morning trading, testing the level of 0.6265 for a breakdown. NZD USD is updating local lows from June 16, reacting to the recovery in demand for the "safe" US dollar, as well as to the aggravation of the geopolitical situation after the Lithuanian authorities announced restrictions on the transit of Russian goods to the territory of Kaliningrad. Additional pressure on the positions of the trading instrument was exerted by rather weak macroeconomic statistics from New Zealand. Westpac Consumer Survey in Q2 2022 fell from 92.1 to 78.7 points, while analysts expected it to rise to 100 points. Global Dairy Trade index declined 1.3% after gaining 1.5% in the prior period, with only a 0.1% downward correction forecast. The volume of Exports from New Zealand in May rose from 6.16 billion to 6.95 billion dollars; however, against the backdrop of an increase in imports from 5.72 billion to 6.69 billion dollars, the trade deficit in May only increased from –9.29 billion to –9.52 billion dollars. [img]https://i.ibb.co/WKhJWrv/nzdusd.png[/img] [B]Resistance levels[/B]: 0.63, 0.635, 0.64, 0.645 |[B] Support levels[/B]: 0.6244, 0.62, 0.6156, 0.61[/JUSTIFY] [/QUOTE]
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