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11 July 2017

NZD/USD: general review

By Kristina Leonova: Chief Analyst in the Investment Research Department

NZD/USD: general review
Yesterday the pair NZD/USD started to fall after FOMC released the data on the volume of consumer crediting. The value of $18.41 bln was much higher than expected (the forecast was 12.70 bln) which increases the possibility of major personal expenses stimulating economic growth. Later on, New Zealand published negative statistics on retail sales using credit cards which strengthened the "bearish" trend in the pair NZD/USD.
Today's important macroeconomic events include statements by FOMC representatives Lael Brainard and Neel Kashkari. Market players will pay attention to their comments on the labor market, inflation dynamics, as well as the terms of reduction of FOMC assets.
On D1 chart the instrument is trying to consolidate below the level of 0.7230. Bollinger Bands were corrected sideward, while the price range remained unchanged indicating a high possibility for the continuation of the current trend. MACD histogram is in the positive zone with its volumes reducing and keeping the sell signal. Stochastic is approaching the oversold zone.
Support levels: 0.7200, 0.7165, 0.7135, 0.7080.
Resistance levels: 0.7265, 0.7295, 0.7330, 0.7360.

This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Liteforex (Europe) Ltd (ex. Mayzus Investment Company Ltd) without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market.
About the author
Kristina Leonova
Kristina Leonova
Chief Analyst in the Investment Research Department

Kristina Leonova is an up and coming market specialist - currently in the process of obtaining The Chartered Financial Analyst Degree in CFA Institute.

She began her career at Liteforex (ex. Mayzus) at only 20 years old, holding the position of the Assistant of the Chief Financial Officer.

She has since become invaluable to the Company, holding the position of Chief Analyst in the Investment Research Department, and now is also responsible for our world renowned market reviews.

She has a keen eye and a good gut instinct when it comes to analyzing the markets, always staying at the top of her game, with her work often being published on other websites and news vendors.

Mayzus is excited to welcome her as our new, top financial analyst.

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