TRADING
TIPS :
The New Zealand dollar held steady against its
U.S. counterpart on Monday, as investors remained cautious ahead of
the Federal Reserve's highly-anticipated policy meeting this week.
NZD/USD hit 0.6692 during late Asian trade, the pair's lowest since
December 9; the pair subsequently consolidated at 0.6710.The pair was
likely to find support at 0.6622, the low of December 7 and
resistance at 0.6787, the high of December 11.Most investors expect
the Fed to raise interest rates for the first time since June 2006 at
its upcoming meeting on December 15-16.Higher interest rates would
make the U.S. dollar more attractive to yield-seeking investors.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5170 TARGET 1.5190 1.5230 SL 1.5140
SELL
GBP/USD BELOW 1.5130 TARGET 1.5110 1.5070 SL 1.5160
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0970 TARGET 1.1000 1.1040 SL 1.0940
SELL
EUR/USD BELOW 1.0920 TARGET 1.0900 1.0860 SL 1.0950
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