10 Jul 2015
NZD/USD spike after Greek proposals rejected by the bears
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6745 with a high of 0.67772 and a low of 0.6734.
NZD/USD has met supply in Asia and has been pressured to 0.6750 support after the spike from 0.6743.
NZD/USD price action and technical analyses
NZD/USD has been better bid for the majority of overnight trade from 0.6700. 6750 was the first major resistance, meeting yesterday's highs and double tp. On this move, we have created a higher high and we are attempting to move against the strong downtrend from the double top of 0.7730 territory.
NZD/USD fundamentals
Over the last few hours, the Greek government sent over the new Greek proposals to Brussels and also to the Greek Parliament, which is due to vote on them on tonight in Europe. The bird was bid on the back of this news but the move was short lived. We now hold out for the Eurogroup finance ministers and the Eurozone finance ministers meeting up on the weekend to give us a further catalyst in the bird. The EU leaders' summit on Sunday.
China is a factor that is taking the markets attention, and could possibly make Greece look like a side show. there are very big concerns for the global implications there. The PBoC is in focus in respect to the faltering economy in China that is another uncertainty and potential time bomb to drive investors to safety and potentially away from the bird.
NZD/USD has met supply in Asia and has been pressured to 0.6750 support after the spike from 0.6743.
NZD/USD price action and technical analyses
NZD/USD has been better bid for the majority of overnight trade from 0.6700. 6750 was the first major resistance, meeting yesterday's highs and double tp. On this move, we have created a higher high and we are attempting to move against the strong downtrend from the double top of 0.7730 territory.
NZD/USD fundamentals
Over the last few hours, the Greek government sent over the new Greek proposals to Brussels and also to the Greek Parliament, which is due to vote on them on tonight in Europe. The bird was bid on the back of this news but the move was short lived. We now hold out for the Eurogroup finance ministers and the Eurozone finance ministers meeting up on the weekend to give us a further catalyst in the bird. The EU leaders' summit on Sunday.
China is a factor that is taking the markets attention, and could possibly make Greece look like a side show. there are very big concerns for the global implications there. The PBoC is in focus in respect to the faltering economy in China that is another uncertainty and potential time bomb to drive investors to safety and potentially away from the bird.