TRADING
TIPS :
NZD/USD hit 0.8288 during late Asian
trade, the pair’s lowest since February; the pair subsequently
consolidated at 0.8314, easing 0.03%.The pair was likely to find
support at 0.8052 and resistance at 0.8390, Tuesday’s high. The
greenback remained supported after the Institute of Supply Management
reported on Tuesday that its manufacturing index jumped to 59 in
August, the most since March 2011, while data firm Markit said its
manufacturing index rose to 57.9, up from 55.8 in July.Investors were
looking ahead to the latest U.S. Employment report, due for release
on Friday, for further indications on the strength of the recovery in
the labor market, a key factor in deciding the future path of
monetary policy.
INTRADAY
OUTLOOK
Immediate
Support:1.6421
Immediate
Resistance:1.6505
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6507 -TG:1.6527/1.6557 SL 1.6477
2.
Sell GBP/USD Below 1.6419- TG:1.6399/1.6369 SL 1.6449
INTRADAY
OUTLOOK
Immediate
Support:1.6421
Immediate
Resistance:1.6505
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6507 -TG:1.6527/1.6557 SL 1.6477
2.
Sell GBP/USD Below 1.6419- TG:1.6399/1.6369 SL 1.6449
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