NZDUSD bears eye a break below 0.6130 – by fx_ross NZDUSD DollarIndex Currencies Fed
did little to help the beaten-down US Dollar. In the US, October sales climbed 1.3% MoM beating, expectations of a 1.0% rise and strongly up vs the 0.0% print in September. ''The data point to still strong consumer demand which is something that the Fed is trying to reduce via its rapid monetary tightening. The data justify a 50bp rate increase from the Fed in December,'' analysts at ANZ Bank explained.
. But it’s complex given late-cycle fears of the Fed’s still fairly resolute tone. Technicals still look reasonably bullish, in our view.''The price is topping out on the time frames as per the hourly chart above and the 4-hour chart below:Information on these pages contains forward-looking statements that involve risks and uncertainties.
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