NZDUSD Daily Outlook On Monday, Saudi Arabia said it will cut oil production by another 1 million barrels per day, we found out that the Italian industrial production decreased by 28.4 percent in January, the new Zealand business climate rose in the a-world May read, and of Japan, and to saw, lift the emergency Declaration, in most of the regions.
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On Tuesday, we will get a decision in the case of the US inflation rate, in Australia, the consumer confidence Index and new Zealand rate.
Today I am looking at the NZD/USD pair, which seems to be in a pullback mode after breaking above the daily Ichimoku cloud, last week. For a while in the future, the cloud is bullish, the 50% Fibonacci retracement level of 0.61, it acts as a strong resistance.
Depending on the rate of loss of incomes results on Tuesday, the couple can secure is the new trend to be the.
To break when it is in the position on the resistance, then the bullish trend is confirmed and we could see further gains in the direction of 0.6259.
You think that the US Dollar is slowly getting weaker and weaker, to make this happen? You go to the comments and let me know.
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