NZDUSD Technical Outlook


Read the 1 February NZDUSD Technical Outlook as it shows that the pair is currently rotating around 0.7370. What else is discussed in the analysis?

1 February, GKFX – NZDUSD continues sideways through Tokyo, with volatility continuing to decrease as the price stays close to the 0.7365 handle.

Key Quotes

  • Kiwi trades sideways in quiet markets
  • Little encouragement in any direction ahead of London.

A lack of usable economic data for New Zealand makes for quiet markets, with the only glimmer of home field data being seasonally adjusted Building Permit numbers at 21:45 GMT. Market action for the pair through London/NY will no doubt come from knock-on market volatility as the US Dollar gets traded up or down against the broader markets, with US ISM Manufacturing and Prices reporting at 15:00, with the market-thumping NFP report dropping on Friday at 13:30.

1 February NZDUSD Technical Outlook

Price action traders will have noted the repeated inverted hammers formed this past Wednesday as well as the Wednesday before, signaling the potential for a reversal, while a neutral pennant is forming on intraday charts.

Today’s pivot points:

R2: 0.7461

R1: 0.7409

PP: 0.7367

S1: 0.7315

S2:  0.7273

Disclaimer

This article 1 February NZDUSD Technical Outlook was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

    Share Your Opinion, Write a Comment