[FONT="Times New Roman"][B]Technical Analysis for NZD/USD: May 4, 2016[/B]
Mixed labor data burdened the Kiwi and started a downturn from its upsurge on Monday. The pair is playing at 68 cents and occasionally bobs above 68. The price is declining as of writing time and the MACD indicator is in negative location.
Employment in New Zealand gained 1.2 percent in the first quarter from 0.9 percent in the period ended December 31. It exceeded forecasts of 0.7 percent. However, the unemployment rate is in the opposite direction as it added 0.4 percent from last quarter’s 5.3 percent. The RBNZ retained the 2.25 percent interest rate last week.
The first support is at 0.6840 and 0.6806 subsequently. The first resistance is at 0.6985 and 0.7020 subsequently. [/FONT]
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