New Zealand dollar is mildly higher after RBNZ raised the OCR by 25bps to 3.00% as widely expected.
In the last couple of weeks the Euro has eased back from the resistance level at 1.39 after surging up higher to that level near the beginning of April and it seems content to settle around 1.38 for the time being.
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EUR/USD – Steady Above Key 1.38 Level
The last couple of weeks has seen the Australian dollar drift lower from resistance just below 0.95 after reaching a six month high in that area.
The last 24 hours has seen the GBP/USD drop sharply back through the key 1.68 level after again moving close to the resistance level around 1.6850.
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GBP/USD – Continues To Hover Around 1.6800
GOLD: Although biased to the downside, its ability to hold above the 1,277.58 level is suggestive of an impending recovery. Support lies at the 1,277.58 level. A turn below here will shift focus to the 1,250.00 level followed by the 1,230.00 level
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GOLD – Vulnerable To The Downside With Caution
The Reserve Bank of Australia decided Wednesday to raise interest rates, adding that it will keep inflation in check and interest rate will rise towards a level at which they are no longer adding to demand.
RBNZ Raises Interest Rate To 3.00%
The Reserve Bank of New Zealand (RBNZ) raised the official cash rate by 25 bps to 3.00% as expected. The bank was unfazed by lower than expected inflation in Q1 and falling dairy prices over the last couple of months, as we suspected it would be. Over the medium-term inflation
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AUDNZD Gets Hit By Australia’s CPI Data And A Rate Hike By The RBNZ
The Kiwi has rallied after the Reserve Bank of New Zealand raised rates by 25bps to 3.00% – This was in-line with market expectations.
Originally posted here:
Kiwi Rallies As RBNZ Raised Rates By 25bps To 3.00%
After peaking near 1.5600 last month, the EUR/CAD collapsed down to trade near the 1.5000 handle early this month. Now, the pair has recovered back to test key previous resistance at 1.5270. A cursory look at the 4hr chart reveals that 1.5270 is the neckline of a clear inverted Head-and-Shoulders
Identify the high and low during the half hour just prior to the London open (usually 2:30-3am ET, but for the next few weeks 3:30-4am ET) and then look for a breakout of this range 10 pips (or 1/10th of the daily ATR) to maintain above/below this level
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GBPUSD Achieves The ATR Target In The Post-Easter Shortened Week