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NZD/USD Technical Analysis: Looks south after biggest single-day drop since Aug. 9

The NZD/USD pair fell 1.74 percent yesterday - the biggest single-day drop since Aug. 9 - and could soon drop to 0.67 as a weaker-than-expected New Zealand labor market data has raised the odds of an RBNZ rate cut. 

Hourly chart

As seen above, the pair has found acceptance below the trendline trending north from Jan. 3 and Jan. 22 lows. Further, the 50- and 200-hour moving averages (MAs) have produced a bearish crossover. The path of least resistance, therefore, is to the downside. The relative strength index (RSI), however, has hit the oversold territory. Hence, consolidation or minor bounce could be in the offing before another wave of selling takes the pair down to 0.6707 (Jan. 22 low). 

Trend: Bearish

 

Gold Technical Analysis: Break of immediate support line highlights $1297 for sellers

Gold 4-Hourly chart XAU/USD Overview:     Today Last Price: 1307.2     Today Daily change: 0.40 pips     Today Daily change %: 0.03%     Toda
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Banks lowered 2019 oil price forecast in January - WSJ

Banks last month lowered slightly their forecasts for oil prices in 2019.  Brent crude is now expected to average just over $67 per barrel, down from
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