Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 0.63894 with take profit at 0.63610.
Alternative scenario: Buy position is envisaged if price trades above 0.64176 with take profit at 0.64568.
Fed Chair Powell Testifies (USD) 4:00 pm.
Comment: The kiwi has seen better days as investors are very cautious in betting on it, this is due to the burden the coronavirus has put on the Asian zone, as investors look for greener pastures in the buck, also data from the buck has shown the US economy is running on all cylinders and investors would be looking at the Feds chair testimony to the house financial service committee on the semi-annual monetary policy report.
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1.32998 with take profit at 1.33193.
Alternative scenario: Sell position is envisaged if price trades below 1.32664 with take profit at 1.32341.
Fed Chair Powell Testifies (USD) 4:00 pm
Comment: This instrument closed bullish yesterday, at the moment we see that the instrument has been selling for hours, at the moment the instrument is on a strong support level, on the hourly time frame, this could be a re-trace for a strong bullish move. Investors also would look at the Feds chair testimony to the house financial service committee for further direction in the later hours of the day.
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