Technical analysis
21:07 The NZD/USD pair is trading near the highs of April 2018
Today, the NZD/USD pair is trading in the range of $0.7305-35, after rising yesterday to the April 2018 highs of $0.7340. On the hourly chart, the pair is trading above the moving average line MA (200) H1 ($0.7240) and on the four - hour chart-above MA (200) H4 ($0.7200). In this situation, it is probably worth sticking to the north direction in trading and looking for exit points to buy.
⦁ Resistance levels are: $0.7340, $0.7370, $0.7395
⦁ Support levels are: $0.7280, $0.7240, $0.7200
The main scenario for the pair's promotion - breakout of yesterday's high of $0.7340 and may be a rise to $0.7370 (April 16-17’ 2018 high)
An alternative scenario - breakout of yesterday's low of $0.7280 and maybe a decline to MA (200) H1 ($0.7240)
Market focus
- U.S. consumer spending rises 2.4 percent in January, income surges 10 percent
- BoE's chief economist Haldane: We might see higher and more sustained rise in UK inflation than expected
- U.S. consumer sentiment slightly better than initially estimated in February
- Key events for next week: Eurozone, Britain, China and US PMI indices, RBA interest rate decision, Canada, Australia and Japan GDP, Eurozone and US unemployment rate, Canada and US trade balance
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