FXstreet.com (Barcelona) - The kiwi is plummeting on Tuesday below the 0.8200 mark on a stronger greenback and rumours regarding China.
Rhetoric about a ‘hard’ landing in the Chinese economy are weighting on sentiment, affecting mainly the commodity markets and the comm-currencies bloc. There was also a rumour about a coup in China, adding fuel to the pessimism hovering over the markets.
It will be an important week for the NZD data-wise, as Q4’s Current Account is due later on today and the GDP figures in the same period are also expected on Wednesday.
At the moment the cross is sharply down 0.97% at 0.8173, facing the immediate support at 0.8225 (hourly low Mar.19) ahead of 0.8196 (MA55d) then 0.8138 (low Mar.12) and 0.8100 (hourly high Mar.14/15).
A breakout of 0.8281 (high Mar.8) would expose 0.8315 (high Mar.5) then 0.8324 (low Mar.1) and 0.8349 (hourly res Mar.2).
Rhetoric about a ‘hard’ landing in the Chinese economy are weighting on sentiment, affecting mainly the commodity markets and the comm-currencies bloc. There was also a rumour about a coup in China, adding fuel to the pessimism hovering over the markets.
It will be an important week for the NZD data-wise, as Q4’s Current Account is due later on today and the GDP figures in the same period are also expected on Wednesday.
At the moment the cross is sharply down 0.97% at 0.8173, facing the immediate support at 0.8225 (hourly low Mar.19) ahead of 0.8196 (MA55d) then 0.8138 (low Mar.12) and 0.8100 (hourly high Mar.14/15).
A breakout of 0.8281 (high Mar.8) would expose 0.8315 (high Mar.5) then 0.8324 (low Mar.1) and 0.8349 (hourly res Mar.2).
