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Home Forex Forex Trading Updates and Views Forex trading: NZD USD is a sell
Forex trading: NZD USD is a sell PDF Print E-mail
Written by Will Peters   
Thursday, 01 July 2010 09:45
A morning roundup of technical views and news on the forex trading scene.


Forex spread betting providers Delta Index have flagged up the NZD USD currency pair.

Delta say, "NZD USD CASH - MACD Crossover. Signal: Sell @ 6859, Stop 7205, Initial target 6171."

Dollar trading


Simon Denham at spread betting providers Capital Spreads says: "On the currency-side, the Dollar is naturally gaining some strength as woes over global markets rear their head again."

Euro Trading


"The Euro still seems reluctant (though) to trade much below 1.2200 and the Pound is likewise seemingly not keen on giving up too much of its recent gains. Cable is now at 1.4890, with traders buying into the move lower obviously hoping for a retracement to the 1.50 level. There is good support at 1.4885 from the short-term bull trend line and then at 1.4855 from previous lows on moves down, but traders should beware a break below these as it may signal a return to Sterling weakness," says Denham at Capital Spreads.

Yen trading


Denham says: "The Yen remains the strong man of the majors, which appears slightly odd given the country’s fiscal position and the Euro/Yen cross is still flirting with the nine year lows around the 108.00 level.

"We have had several attempts over the last three days to close under this mark but, even with an intraday low of 107.25, last gasp moves have always regained the level.

"This morning we are once again below 108.00 (just) and it will be interesting to see whether a close can be achieved below this point."
Last Updated ( Thursday, 01 July 2010 09:48 )