Alex Borzak
The latest surveys conducted by ANZ-Roy Morgan show that despite NZ’s overall market decline seen last month the country’s consumer sentiment index lost only 0.7% down to 112.6pts in September after a 3.9% increase in August.
The cover letter says that the positive results are mainly connected with The 2012 World Rugby Cup, which is currently going on in New Zealand.
FOREX.
According to the Department of Masterforex-V trading system , NZDUSD has just finished a downward retracement of H4. After breaking the bearish sloping channel the currency pair formed an upswing, which may well be a reversal wave along the major trend. A further decline (if there is any) will take the form of the “Hound of the Baskervilles” pattern by Elder/MF of a wave level higher than H4.In this case the closest support will be found at 0,8116. If the downward scenario fails, there will be a “moment of truth” against the upswing, followed by a FZR H4, which will give the currency pair an opportunity to continue its long-term rally.
Alex Borzak
