Kiwi Outperforms Aussie Dollar To Trade Higher

Kiwi Outperforms Aussie Dollar To Trade Higher

By: Darryl Frankfort | Where To Trade | On:24-02-2015 16:10
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Key Highlights

  • New Zealand dollar managed to hold ground against the US dollar, but the Aussie dollar suffered losses which in turn helped the AUDNZD pair to trade higher.

  • Japanese Corporate Service Price Index (CSPI) released by the Bank of Japan registered a gain of 3.4% in January 2015, compared to the same month of the last year, and last reading stands at 3.6%.

  • In the New Zealand, the Inflation Expectations released by the Reserve Bank of New Zealand registered an increase of 1.8% in the first quarter of 2015 in terms of the yearly change.

  • German GDP and the Euro zone consumer price index are major releases lined up today during the London session which might ignite swing moves in the Euro.

  • In the US, fed chairwoman will be testifying, which can be considered as a major event today.

  • GBPUSD continues to trade in a range and awaits move in the US dollar for action.

EURUSD

The Euro failed once again around the 1.1400-20 resistance area, which ignited a sharp downside reaction in the EURUSD pair. There is a major bearish trend line formed on the 4 hour chart, which stalled the upside in the EURUSD pair around the mentioned resistance area. The 200 simple moving average also acted as a hurdle to some extent. On the upside, an intermediate resistance ahead of the highlighted trend line can be seen around the 50% fib retracement level of the last drop from the 1.1495 high to 1.1267 low.

Intraday Support Level – 1.1280

Intraday Resistance Level – 1.1380

  • Overall, as long as the pair is below the highlighted trend line it might continue trading lower.

  • A break above the same could mean a change of trend moving ahead.

If the EURUSD pair moves lower from the current levels, then initial support can be seen around the last swing low. A break below the same might call for further losses in the near term may be towards the 1.1220 support area where the Euro buyers might appear.

GBPJPY

The British pound remained a good buy not only against the US dollar, but also against the Japanese yen. There is a major support trend line formed on the 4 hour chart of the GBPJPY pair which is likely to act as a hurdle in the near term. Moreover, the pair is comfortably placed above the 100 and 200 simple moving averages, which is another bullish sign in short term for the pair. Moreover, the 38.2% fib retracement level of the last leg from the 177.55 low to 184.13 high might also act as a pivot area for the pair moving ahead.

Intraday Support Level – 183.10

Intraday Resistance Level – 183.90

  • Buying dips around the stated trend line look like a good option.

  • A break below the same might call for more losses moving ahead.

On the upside, a break of the last swing high around the 184.10-20 area is needed for more upsides, which could then take the pair towards the 185.00 level.

Yen Looks Set For More Losses

Yen Looks Set For More Losses

By: Simon Furman | Where To Trade | On:01-05-2015 11:16

Japanese yen tumbled against most currencies including the Euro and the US dollar, and it looks like it might continue to head lower in the near term.

AUDUSD Remains Buy On Dips

AUDUSD Remains Buy On Dips

By: Ben Myers | Where To Trade | On:30-04-2015 11:13

Aussie dollar was one of the best performing currencies as it traded higher against most major currencies, and looks set for more gains in the short term.

USDCHF At Risk Of A Major Break

USDCHF At Risk Of A Major Break

By: Darryl Frankfort | Where To Trade | On:29-04-2015 11:09

US dollar dived sharply against the Swiss franc and other major currencies, as sellers managed to gain strength exposing a major break in the USDCHF pair in the near term.

US Dollar Poised For Further Rise Versus Yen

US Dollar Poised For Further Rise Versus Yen

By: James Ansher | Where To Trade | On:28-04-2015 10:58

Japanese yen once again failed to hold the ground and lost all the gains against currencies like the US Dollar and the Euro, which exposes it for more declines in the near future.

NZDUSD Gains Favored As It Holds Key Lows

NZDUSD Gains Favored As It Holds Key Lows

By: Oliver Miller | Where To Trade | On:27-04-2015 10:50

New Zealand dollar traded lower this past week after solid gains against the US dollar, but found support around and important area which means there is a chance of recovery in the near term.

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