The RBNZ announced a sooner-than-expected raise in interest rates to happen this month instead of late 2021. NZD's unemployment rate also beat expectations by 0.4% at 4% unemployment, and employment change went to 1%, 0.3% higher than expected meaning that more people gained jobs in the labor force than expected. Australia continues to suffer in the short term with their extended lockdown until Sunday and their short term economic slowdown.
With very clear and bullish news on the kiwi paired with bearish economic news on the buck, The AUDNZD pair looks like an obvious short to me. NZD also looks attractive in most pairs as well as the idea of raising rates is rare right now, especially among major currencies like USD, CAD, and EUR.
AUDNZD on the 4H chart tests resistance around its falling trend line. Further resistance is around 1.05083 should price break upward. The lows could be tested on this news around 1.04163 where there is a long term bottom on the 1D chart.
NZDUSD looks increasingly bullish after breaking above the channel trend line on the 4H timeframe. Resistance around .70857 where price made a triple top which would be a tough level to break above. If it were to break, we could see continued upside and that level would serve as new support.
NJ on the 4H chart finally gains some momentum after bouncing off a quadruple bottom and running up near resistance at a falling trend line. Price could retrace after this hard run, so long opportunities could be found at 77.313 and 76.876.
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9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]
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