NZD/USD gets lift from neutral Yuan again

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - NZD/USD has been better bid with the yuan another neutral fix for a fourth consecutive day. this is offering risk an opportunity through the cracks and the bird is extending the recovery for this week.

    Meanwhile we await the trade balance from China. As mentioned earlier, "manufacturing sector has been an area of contraction in the economy of China and exports are unlikely to be recovering with such little output and, despite the Yuan's depreciation. On the other hand, Imports could have suffered on the Chinese currency."

    Should the data surprise and be positive then the bird should extend the recovery to test the 100 SMA on the hourly at 0.6580. The next resistance along comes as 0.6665 and the 200 SMA on the same time frame.
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