Instrument: NZDUSD
Bullish Preference:
A buy position is envisaged if the price trades above 0.61604 with take profit at 0.61742.
Bearish Preference:
A sell position is envisaged if the price trades below 0.61205 with take profit at 0.61079
Fundamentals:
3:00pm USD ISM Manufacturing PMI
Comment:
Most Asian currencies firmed on Monday as softer-than-expected U.S. inflation readings pushed up hopes that the Federal Reserve will taper its hawkish stance, with focus also turning to more U.S. economic cues this week. Losses in the dollar benefited most Asian units, although gains were limited following mixed economic readings from the region’s biggest economies. Markets are also still positioning for a Fed rate hike later in July.
Analysis: SCRUM Team