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Instrument: NZDUSD
Bullish Preference:
A Buy position is envisaged if the price trades above 0.58312 with take profit at 0.58477
Bearish Preference:
A Sell position is envisaged if the price trades below 0.58145 with take profit at 0.57974
Fundamentals:
1:30 pm
USD FOMC Member Harker speaks
Federal budget balance
Comment:
Unemployment claims data released yesterday showed that more people filed for unemployment claims, though it was not as big as the forecast but it showed a gradual increase from the last data released from 205k to 207k.
New Zealand dollar was strengthened by the Services PMI, which rose to 50.7 in September, up from 47. 7 in August. This reading is barely in expansion territory, but it indicates a welcome rebound after three straight declines – the 50 level separates contraction from expansion.
Analysis: SCRUM Team
