The obvious near-term resistance here is the value area between the 100 and 200 SMAs. Whether this might be tested on Wednesday morning is likely to depend on how markets perceive the accompanying commentary from Dr Orr and other senior members of the RBNZ, not just whether the cash rate is hiked as expected. Lower…
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The very high volatility in the middle of last week was consistent with what would typically be expected during the count of a presidential election. The downward movement became clear on Wednesday, with a clear break below the 61.8% weekly Fibonacci retracement area. Price is now testing the upper limit of the weekly Fibonacci fan…
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The following article is written by Alejandro Zambrano, Chief Market Strategist, ATFX. On February 12, the New Zealand central bank, the Reserve Bank of New Zealand (RBNZ), will host a rate meeting. The key interest rate is at 1% and economists do not anticipate a change in interest. However, their language might change to less dovish…
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