The New Zealand dollar showed mixed dynamic against American currency yesterday. The pair started rising since the beginning, when strong building permit data in Australia was published. Later US dollar took back the profit while GDP statistic in Eurozone showed was lower than expectations. The NZDUSD pair finished Tuesday with 4 points falling to 0.6814 level.
Today at night Employment change in New Zealand was published and beat forecast (0.5% rising against 0.4% of expectations). However, unemployment rate showed higher value than expected – 4.5% against 4.4%. It has made negative effect on the New Zealand dollar which is falling against US dollar since the beginning for 25 points. While Cayman indicator still shows bullish dominating, we expect bearish dynamic at least until 0.6720 support level.
Bitcoin lost 00 support level yesterday after its trading for 6 days in a short range. It might happened after the G20 meeting in Argentina decided to take regulatory action on cryptocurrencies. The main cryptocurrency lost around 0 or almost 6% at finished previous session at 39.
Today the BTCUSD pair continue falling to 70, if 00 support become broken, we might see fast downtrend to 00 level in a short term period. The MACD indicator in the overbought zone, RSI is going to 50th level. In this case, we are not ready to buy from the current levels, it would be better to wait until the pair tests 00 support. If it breaks level – we will sell from 00, if it rebounds – we will buy from 00.
So, our targets for
NZDUSD – is selling to 0.6720
BTCUSD – is falling to 00
Main trading ideas on Forex and cryptocurrency market for 01.08.2018