46 0
Current trend

The pair NZD/USD is showing growth in view of statements by FOMC head Janet Yellen about possible extension of the terms of interest rate increase. The lack of "hawkish" tendencies in the comments of the regulators' Chair disappointed the investors and catalyzed active sales of USD.

The data on the changes in the food products price index were released from New Zealand today and showed the growth of the indicator by 0.2%. The economy of the country depends on the export of agricultural goods and food products, and the growth of the indicator is beneficial for the national currency.

Another statement by FOMC head Janet Yellen is scheduled for today. Along with the release of jobless claims it will keep the market in tension. USD may strengthen at some point which will put pressure on NZD/USD .

Support and resistance

On the D1 chart the instrument is moving in the narrow range formed by upper and lower lines of Bollinger Bands . MACD histogram is in the positive area with it volumes decreasing.

Support levels: 0.7280, 0.7250, 0.7200, 0.7160, 0.7130, 0.7100.

Resistance levels: 0.7330, 0.7385.

Trading tips

Long positions may be opened from the current price with targets at 0.7350 and stop-loss at 0.7260.

Short positions may be opened from the level of 0.7250 with targets at 0.7200 and stop-loss at 0.7280.

The period of implementation is 1-3 days.
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