Forex: NZD/USD breaks 0.8480 resistance; 0.85 is next

After the break-up of a pennant pattern, the NZD/USD has found enough follow through to now be breaking the 0.8480 resistance - Feb 4 high - as it seeks to kiss the round number at 0.85. A break above, exposes next resistance area at 0.8565/70 - Aug 2011 high - ahead of 0.86. On the downside, sequence of steady bids between 0.8450 up to 0.8480 should be noted. The recent rise comes after today's positive data in both manufacturing and consumer confidence.

Feb 14, 2013

Forex: GBP/USD to 1.40 below 1.5220 - FXWW

Following a first article on the gloomy outlook of the Cable, in which Sean Lee, founder at FXWW, predicts the GBP/USD downtrend looks set to gather steam should weekly support at 1.5250 give up, the analyst is out with additional views on the pair, saying that the sideways movement from the last 4 years looks set to end.

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Feb 14, 2013

Forex Flash: BoJ, no major policy changed eyed - NAB

As the NAB strategy team notes, there is little expectation of any major policy changes for today's Bank of Japan meeting, "given the announcements made last month and following last week’s news that BoJ Governor Shirakawa will step down from his position in March, three weeks earlier than planned" the bank notes. NAB looks for "the JPY to weaken further in coming days, regaining the 94.40 highs" they say.

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