NZDUSD: under pressure after the publication of the consumer price index in New Zealand
NZDUSD
July 16, 2015, 09:51
Buy on a level breakthrough of 0.6534 with 0.6594 target. Stop loss = 0.6484.
Reason for the trading strategy
In June, the business sentiment index in New Zealand's manufacturing sector rose from 52 p. to 55.2 p. The consumer price index in New Zealand in Q2. 2015 rose from - 0.3% (q/q) to 0.4% (q/q), but was worse than the forecast of 0.5% (q/q). An insufficiently strong rise in inflationary pressures increased the likelihood of a future rate cut in the country and forced market participants to sell the kiwi. Currently, the US dollar is losing ground against the euro, contributing to the Kiwi's adjustive rebound from the intraday low.
NZDUSD, H1
NZDUSD
July 16, 2015, 09:51
Buy on a level breakthrough of 0.6534 with 0.6594 target. Stop loss = 0.6484.
Reason for the trading strategy
In June, the business sentiment index in New Zealand's manufacturing sector rose from 52 p. to 55.2 p. The consumer price index in New Zealand in Q2. 2015 rose from - 0.3% (q/q) to 0.4% (q/q), but was worse than the forecast of 0.5% (q/q). An insufficiently strong rise in inflationary pressures increased the likelihood of a future rate cut in the country and forced market participants to sell the kiwi. Currently, the US dollar is losing ground against the euro, contributing to the Kiwi's adjustive rebound from the intraday low.
NZDUSD, H1
