Our free forex signals service today looks at the NZD/USD and we have the entry, stop and take profits levels for you. China’s Industrial Production and Retail Sales data for July were released early Monday. This led to a decline in New Zealand Dollar/USD around 0.7035, down 0.09% on a day. China’s retail sales contracted to 8.5% YoY, compared with expectations of 11.5% and previous readings of 12.1%. Furthermore, Industrial Production also declined to 6.4% yearly in July, underperforming market expectations and previous readings of 8.3%. –Are you interested to learn more about automated forex trading? Check our detailed guide- On Friday, a tough set of data hammered the US yield and the US dollar, supporting commodities and proxy currencies such as the AUD, CAD, and NZD. Consumer sentiment in the US dropped sharply in early August to its lowest level in over a decade. As the largest drop in the survey’s history, this decline was the sixth-largest of the past 50 years, with the dollar index DXY declining 0.4% to 92.523, its lowest level since August 6. Get FREE Forex Signals Now! As traders await the RBNZ’s interest rate decision this week, the NZD/USD pair is moving towards recent highs. Analysts at ANZ Bank warned that if the RBNZ hikes interest rates this week, markets will likely be volatile. The rate hike expectation seems to be split 80/20 between a 25bp hike and a 50bp increase. Other than downward sloping RSI and the momentum line, NZD/USD also sold because of the downbeat numbers from the key customer. Despite the current weakness, the 200-SMA level of 0.6995 will fight back any further downside. The ascending support line from July 28 may be retested around the 0.7000 threshold. NZD/USD free forex signals TRADING OPINION Instrument: NZD/USD Order Type: BUY STOP Entry price: 0.7068 Stop Loss: 0.6992 TP1: 0.7206 Our Risk Setting: 1% Risk / Reward Ratio: 1:1.8 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex Trading Signals share Read Next USD/CAD Price Analysis: Weaker Oil & Risk Aligning to Gain 1.2600 Saqib Iqbal 2 months Our free forex signals service today looks at the NZD/USD and we have the entry, stop and take profits levels for you. China's Industrial Production and Retail Sales data for July were released early Monday. This led to a decline in New Zealand Dollar/USD around 0.7035, down 0.09% on a day. China's retail sales contracted to 8.5% YoY, compared with expectations of 11.5% and previous readings of 12.1%. Furthermore, Industrial Production also declined to 6.4% yearly in July, underperforming market expectations and previous readings of 8.3%. –Are you interested to learn more about automated forex trading? Check our detailed guide- On… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
