TRADING
TIPS :
The New Zealand dollar edged lower
against its U.S. counterpart on Wednesday, hovering close to a
five-year trough after euro zone officials gave Greece until Thursday
to present new proposals to secure a deal with creditors. NZD/USD hit
0.6622 during late Asian trade, the session low; the pair
subsequently consolidated at 0.6644, slipping 0.08%. The pair was
likely to find support at 0.6621, Tuesday’s low and a five-year low
and resistance at 0.6715, the high of July 6. The euro zone had
expected Greece to submit fresh plans on Tuesday after its voters
rejected a deal in a referendum, but no new proposals were tabled.
European Council President Donald Tusk said this was now the “most
critical moment in the history of the euro zone”. A meeting of all
28 members of the European Union was also scheduled for Sunday – a
day after the new Greek proposals are expected to be discussed by
euro zone finance ministers. The kiwi was higher against the
Australian dollar, with AUD/NZD declining 0.67% to 1.1133.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5470 TARGET 1.5490 1.5520 SL 1.5440
SELL
GBPUSD BELOW 1.5328 TARGET 1.5308 1.5278 SL 1.5358
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1105 TARGET 1.1125 1.1155 SL 1.1075
SELL
EURUSD BELOW 1.1060 TARGET 1.1040 1.1010 SL 1.1090
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