Forex news, NZDUSD. NZDUSD is under pressure due to declining AUDUSD and weaker investors’ interest to risky assets.
According to currency strategist and analyst of the Bank of New Zealand Mike Jones, currencies that are sensible to growing have declined under the influence of investors’ unwillingness to take risks.
In spite of the warning of some experts, the actions of RBA has been surprising to most market players, when it has lowered the interest rate by 50 points, instead of expected 25 points. The rapid decline of Australian currency has brought the decline of NZDUSD. At the same time NZDAUD may keep rising and will be tested at the point of 0.8000
NZDUSD remains within rising long-term trend. According to the experts of Masterforex-V Trading System Department, the pair has finished forming bullish wave А/В of approximately Daily level, and has come to forming bearish wave А/В of at least H4 level. Bearish wave А/В of approximately Н8 level will continue when the minimal point 0.8120 is broken. The closest support will be provided by sloping channel MF, pivot MF 0.8105, and minimal point 0.8087. Bullish wave А/В of approximately Daily2 level will continue when the maximal point 0.8233 is broken. The closest significant resistance will be provided by maximal point 0.8318.
Text by: Eduard Culchenko, expert of Masterforex-V Trading System Department
