The left daily chart shows the NZDUSD pair in the weak area, with the Bollingers starting to expand. This, after the RBNZ kept rates steady at 0.25% (market forecast was for a hike of 25bps). The right hourly chart shows the EMA in bearish formation, with the faster green below...

NZDCHF reacting above from pivot at 0.63212 in line with 127.2% Fibonacci extension . Price may rise to take profit at 0.64109 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension . Alternatively, price may rally to stop loss at 0.62801 in line with horizontal swing low. Stocastic is...

Price is reacting above our pivot level at 0.72588 which is in line with 127.2% Fibonacci extension level. Price could potentially bounce further upside to resistance at 0.72962 which is in line with 38.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 20EMA. Stochastic is also at support level...

Price is approaching our pivot level at 1,796.49 which is in line with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level and horizontal overlap resistance. Price could potentially drop towards support at 1,761.94, in line with 23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA. Stochastic is...

AUDCHF is seen to have a potential bullish divergence , stochastic indicator is seen to form a higher high hovering around the support level while price dropped. Potential buy entry at 0.66371 in line with 100% Fibonacci extension . Price is expected to rise to take profit level 0.66911 in...

Price is above ascending trendline support and above pivot at 0.72125 which in line with 127.2% Fibonacci extension . It could potentially bounce from support and rise further to take profit at 0.73345 in line with our 61.8% Fibonacci retracement and 61.8% Fibonacci extension . Otherwise price may continue to...

Price is approaching support at 75.217 which in line with 141.4% Fibonacci extension . It could potentially bounce from support and rise further to take profit at 76.874 in line with our 61.8% Fibonacci retracement and 78.6% Fibonacci extension . Otherwise price may continue to bearish to stop loss at...

Price is approaching support at 149.704 which in line with 141.4% Fibonacci extension and 78.6% Fibonacci retracement . It could potentially bounce from support and rise further to resistance at 153.443 in line with our 50% Fibonacci extension . Otherwise price may continue to bearish to stop loss at 148.458...

Today we look at the most volatile US equity market session in weeks and whether risk sentiment is deteriorating, in part on concerns linked to China's policy agenda of fighting inequality. Also, a look at copper trading down at pivotal levels, cotton gunning at a huge resistance level, the RBNZ's...

Macro Dragon checks back in on the RBNZ rate decision to leave rates unchanged at 0.25%, which is a big difference from the hikes expectations from just earlier this wk - with the key caveat being the covid-case that has taken NZ to a country wide shutdown. (These are solely...