EXNESS - Analytics

    EXNESS

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    NZDUSD: Consolidation in the 0.6748-0.6818 range

    Buy on rebound from 0.6748 level with 0.6818 target. Stop loss = 0.6690.

    Reason for the trading strategy

    Last weekend, the Chinese authorities announced that they will close their eyes to a record high deficit and the increase in the money supply targets to ensure the economic growth is in the range of 6.5% -7.0%. Another expansion of monetary stimulus in China will support the commodity currencies. In the short term, the NZDUSD pair is likely to consolidate above the support level of 0.6748.

    NZDUSD, H4


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