NZD/USD: Daily
Time for the Kiwi to recover? Just like the EUR/USD daily chart I showed y’all yesterday, NZD/USD is stalling at a long-term resistance turned support zone. At the same time, stochastic is starting to move out of the oversold zone, reflecting a return in buying pressure. If Kiwi bulls are strong enough, they could push the pair up to the next area of interest at the .8550 broken support area. On the other hand, if Kiwi bears come back to play, they could trigger a strong breakout below the .8400 major psychological support.
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Editors’ Picks
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GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
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