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SpanishKiwi Trades Slightly Up Ahead of GDP data due Tomorrow, 30+ PIP Movement Likely in NZD Parity; June 16, 2021
New Zealand GDP q/q
New Zealand has scheduled to release GDP q/q data on June 17 at 1045 GMT/0415 IST. It’s the broadest measure of economic activity and the primary gauge of the economy’s health. If the actual data comes higher than forecasted, it will be good for NZD.
Let’s see how NZD has reacted during the previous data release:
March 17:
Dec 16:
Technical View:
NZD/USD:
- Kiwi trades slightly higher ahead of New Zealand’s GDP q/q data.
- The pair made intraday high at $0.7149 mark and low at $0.7116 mark.
- A day chart is likely to give successful crossover for the bearish trend confirmation while H1 chart with triple EMA confirms bearish trend for the time being.
- A sustained close above $0.7158 requires for the upside rally.
- Alternatively, a consistent close below $0.7120 will check further supports.
| RESISTANCES | SUPPORTS |
| $0.7158 | $0.7120 |
| $0.7178 | $0.7100 |
| $0.7203 | $0.7068 |
| $0.7224 | $0.7044 |
| $0.7250 | $0.7010 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills