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Technical Analysis
XtreamForex Daily Technical Analysis
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[QUOTE="xtreamforex26, post: 162299, member: 59158"] [B]Technical Overview of AUD/USD, USD/JPY and NZD/USD Currency Pairs[/B] [B]AUD USD[/B] The AUD traded lower against the USD and closed at 0.7111. Decisions regarding this interest rate are made by the Reserve Bank Board, and are explained in a media release which announces the decision at 2.30 pm after each Board meeting. RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. According to the Analysis, The pair is expected to find support at 0.70994, and a fall through could take it to the next support level of 0.70874. The pair is expected to find its first resistance at 0.71275, and a rise through could take it to the next resistance level of 0.71436. Previous Day range was 28.1 and Current Day Range is 47.5. [B]USD JPY[/B] The USD traded higher against the JPY and closed at 111.342. The Nondefense Capital Goods Orders Excluding Aircraft, released by the US Census Bureau, measures the cost of orders received by manufacturers for capital goods (capital goods are durable goods used in the production of goods or services), which means goods planned to last for three years or more, excluding the defense and aircraft sectors. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish. The pair is expected to find support at 110.967, and a fall through could take it to the next support level of 110.593. The pair is expected to find its first resistance at 111.577, and a rise through could take it to the next resistance level of 111.813. USD JPY previous Day range was 6100 and Current Day Range is 1640. [B]NZD USD[/B] The NZD traded lower against USD and closed at 0.6805. According to the analysis, pair is expected to find support at 0.67931, and a fall through could take it to the next support level of 0.67815. The pair is expected to find its first resistance at 0.68267, and a rise through could take it to the next resistance level of 0.68487. NZD USD previous day range was 33.6 and current day range is 27.5. [/QUOTE]
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