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ALert - 16:55 (CET) - NzdUsd
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As the kiwi is dependant of the swings in the international commodity prices and the swings of the stocks, it's no wonder that right now it's moving away from it's intraday highs against the Dollar. the Dow Jones Industrials index is in the red, after being very high. The crude barrel price declined to 65 dollars from 70.
The month ends with the greenback advancinc 14% against the Aussie, due to the flight to safety the investors are force to do given the stocks declines.
The NzdUsd is trading at 0.5825, ranging between 0.5747 and 0.5928. Checking the hourly graphics, we see that the 20- and 50-day EMA are over the 200-day EMA.
The supports are at 0.5347 (April 9th low), 0.5658 (September 3rd 2003) and 0.5000 (key). As the current price broke the resistance at 0.5595 (October 26nd high), the traders are watching the nex at 0.6018 (October 23rd high) and 0.6349 (October 14th high).
Meanwhile, the 60-minute RSI is at 46 points, rebounding from the overbought area. The average volatility per hour could reach 150 pips. Checking the daily graphics, the current price over the 61.80% (0.5557) and under the 50.00% (0.6055) Fibonacci retracement lines.
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