Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

NZD/USD Price Analysis: Climbs to over 1-week tops, approaching descending channel resistance

  • NZD/USD gained traction for the third straight day and recovered further from one-month lows.
  • The technical set-up supports prospects for an eventual breakthrough a descending trend-channel.
  • Slightly overbought RSI on the 1-hourly chart warrants some caution before placing fresh bullish bets.

The NZD/USD pair built on this week's rebound from over one-month lows, around the 0.6520 region and gained traction for the third consecutive session on third consecutive session on Wednesday.

A sustained move beyond 200-hour SMA was seen as a key trigger for intraday bullish traders and the subsequent momentum pushed the pair to over one-week tops during the early European session.

Any subsequent positive move is likely to confront stiff resistance near the top boundary of an upward sloping channel, extending from the last week of June, currently near the 0.6335 region.

Bullish oscillators on 4-hourly/daily charts support prospects for additional gains. However, slightly overbought RSI on the 1-hourly chart warrants some caution for aggressive bullish trades.

Hence, it will be prudent to wait for a sustained breakthrough the trend-channel barrier before positioning for any further appreciating move, possibly towards reclaiming the 0.6700 mark.

Conversely, rejection slide from the mentioned hurdle now seems to find some support near the 0.6600 mark. This is followed by the 0.6580 horizontal level, which should act as a pivotal point for short-term traders.

NZD/USD 4-hourly chart

fxsoriginal

Technical levels to watch

 

Precious Metals: Positive nuances to continue supporting prices – ANZ

Ample liquidity and negative real rates continue to support the precious metals sector. The investment demand for all metals has been strong. Gold loo
Read more Previous

European Monetary Union Current Account n.s.a: €17.3B (June) vs €-10.51B

European Monetary Union Current Account n.s.a: €17.3B (June) vs €-10.51B
Read more Next