New Zealand rate decision: Wednesday, 1:00. The Reserve Bank of New Zealand was not as dovish as its peers in Australia. The economy has seen its ups and downs but is generally doing well. Governor Adrian Orr and his colleagues are set to maintain the interest rate at 1.75% and will likely signal no imminent changes to the interest rates in the coming meetings. The country is reeling from the recent terrorist attack in Christchurch, but any implications will take time to be seen.
NZD
New Zealand rate decision
- EURUSD
Update: No changes. The daily timeframe shows that the pair is traded below a strong resistance level that is the downtrend line. This indicates that the pair might continue going down to reach the level of 1.12 followed by 1.1150
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.18 |
▪ – ▪ 1.1217 ▪ 1.1150 |
We are bearish as long as the pair is traded below the down trendline. |
- GBPUSD
Update: We remain the same. As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.3310. We will be waiting for the pair to show up some bearish evidence then we can go short targeting the level 1.29 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.36 ▪ 1.3310 ▪ 1.33 |
▪ 1.29 ▪ 1.27 ▪ 1.26 |
We are bearish as long as the pair is traded below the level of 1.33. |
- GOLD
Update: The pair reached our target. Let us wait for some evidence for the upcoming movement.channels does rely on the upside and the downside. This simply means that we will have to wait for the pair to reach one of these extremes then we can enter the market targeting the opposite side.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1365 |
▪ 1298 ▪ 1180 ▪ 1170 |
Waiting for the pair to reach an area where we can enter the market. |
- AUDUSD
Update: We remain the same. As could be seen on the chart above that the pair is traded above a strong support level that is 0.70. So we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.74 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ 0.7260 |
▪ 0.7000 ▪ – ▪ – |
We are bullish as long as the pair is traded above the level of 0.70. |
- GBPJPY
Update: Still traded above the support level. As could be seen on the chart above that the pair is traded above a strong support level that is 143.70. Therefore, we can go long targeting the level of 144 during the week. This is conditioned by the continuation of trading above the mentioned above level.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 149 |
▪ 140 ▪ 139 ▪ 138 |
Nothing to be done for now. |
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