Fundamental Analysis:

The New Zealand dollar dropped to three-week lows against its U.S. counterpart on Wednesday, after the release of downbeat employment data from New Zealand, although the greenback’s gains remained limited.

In a report, Statistics New Zealand said that the number of employed people rose by 0.7% in the first quarter, disappointing expectations for a 0.8% gain, after an increase of 1.2% in the last three months of 2014.

The report also showed that New Zealand’s unemployment rate rose to 5.8% in the three months to March from 5.7% in the previous quarter, compared to expectations for a decline to 5.5%.

 

Technical Analysis:

Intra-day bias in this pair is mildly bearish as 21 and 55 EMA remains crossed downward. Am expecting another re-fall to 0.7451 weekly support.

Comments

    1. Dear sir,

      Sorry for the late response, for now we are sorry we do not manage client’s fund. However we have plans for fund management in the future.

      Technical department
      Instaforex Nigeria

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