New Zealand dollar reached its lowest low level on 22 May 2019. It formed a 'morning star' bullish pattern and started moving up. Right now we expect that the bullish tendency may continue. Next targets for the price are 0,89161 (38,2% Fibo correction) and 0,89490 (200-EMA).
Main indicators are moving that - this is a positive signal for NZD to grow.
For more conservative traders it would be better to wait till the pair breaks 200-EMA on 4H TF 0,88630.
Fundamentally we recommend to pay attention to Global Dairy Trade Index on Tuesday. Dairy products take a big part of NZ national GDP.
On Friday Canadian unemployment rate is published.
Main indicators are moving that - this is a positive signal for NZD to grow.
For more conservative traders it would be better to wait till the pair breaks 200-EMA on 4H TF 0,88630.
Fundamentally we recommend to pay attention to Global Dairy Trade Index on Tuesday. Dairy products take a big part of NZ national GDP.
On Friday Canadian unemployment rate is published.