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Ikon forex "NZD/USD might be pushed up high after CPI data was released in the market

Discussion in 'Forex Discussions' started by ikonforex, Jan 17, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    The forex price of NZD/USD slightly went back to the level of 0.7720 early in the Asia forex market on Tuesday (January 18), and the forex price at the end of the local forex market was at 0.7685.

    The forex dealer Chris Hunter in Western Union Business Solutions said they predicted the forex price of NZD/USD would be maintained at the current level and the CPI index which was released on Thursday in New Zealand might go further high.

    Hunter thought the confidence of the forex investors got improved as the sovereign debt crisis was smoothed and the price of the agricultural products got improved and went up, and all of there elements provided some support for the forex price of NZD. Even though the forex market in US was closed and it might bring some impact to the dim forex trading in the market.

    He predicted that the support point of the forex price of NZD/USD was at 0.7700, and the primary obstacle point was at 0.7750.

    The forex price of NZD/USD was at 0.7715/25 at 08:16 Beijing time.

    Edited by Laura in Ikon Group.

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