EURNZD Higher
Trying EURNZD higher here.
Rate differentials are moving higher, we got a hawkish cut from the ECB and EU data is improving overall, meanwhile the NZ economy is not doing so well.
I also think NZDUSD moves a little lower here on a strong NFP and therefore likely higher US yields. EURNZD is closely inversely correlated with NZDUSD and so should follow.
Sorry for the messy chart, you can see on there we broke out of a falling wedge which is a good technical sign, we also bounced off a rising trendline support.
Not trading/investment advice, feedback welcome!
Rate differentials are moving higher, we got a hawkish cut from the ECB and EU data is improving overall, meanwhile the NZ economy is not doing so well.
I also think NZDUSD moves a little lower here on a strong NFP and therefore likely higher US yields. EURNZD is closely inversely correlated with NZDUSD and so should follow.
Sorry for the messy chart, you can see on there we broke out of a falling wedge which is a good technical sign, we also bounced off a rising trendline support.
Not trading/investment advice, feedback welcome!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.