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NZD/USD fails again to test monthly high
NZD/USD approaches the weekly low (0.6137) after staging another failed attempt to test the monthly high (0.6276), and the exchange rate may continue to give back the rebound from the monthly low (0.6085) as it initiates a series of lower highs and lows. NZD/USD fails again to test monthly high NZD/USD trades below the 200-Day SMA (0.6162) as New Zealand’s Gross Domestic Product (GDP) report shows a larger-than-expected decline in the growth rate, and the exchange rate may track the negative slope in the moving average as the US Dollar appears to be benefiting from the shift in risk appetite. Looking ahead, it ... (full story)