TRADING TIPS :
- Forex -Pound steady near 1-1/2 month lows against dollar
- Forex -Dollar steady against euro, yen
- Forex -USD/CHF almost unchanged after positive Swiss PMI
NZD/USD hit 0.8503 during late Asian trade, the session low; the pair subsequently consolidated at 0.8506, sipping 0.09%.The pair was likely to find support at 0.8462, the low of August 1 and resistance at 0.8557, the high of July 29.On Friday, official data showed that the U.S. economy added 209,000 jobs in July, below forecasts for jobs growth of 233,000. The previous month’s figure was revised up to a gain of 298,000 from a previously reported increase of 288,000.A separate report showed that job advertisements in Australia rose 0.3% in July, after a 4.4% increase in May, whose figure was revised up from a previously estimated 4.3% gain.
GBP/USD was flat at 1.6821, not far from Friday’s lows of 1.6808, the weakest since June 12.Cable is likely to find support at the 1.68 level and resistance at 1.6890, Friday’s high.The U.K. construction purchasing managers’ index slowed to 62.4 from 62.6 in June, but was still slightly ahead of expectations for a reading of 62.0.The overall pace of growth was the fastest since 2007, with housing activity still by far the best performing construction category. Last month’s increase in output was the sharpest for over a decade. Although it was the sixth successive month that the U.S. economy added more than 200,000 jobs,the unemployment rate unexpectedly ticked up to 6.2% from 6.1% in June. In addition, wage growth was flat, pointing to underlying slack in the economy.
1. Buy NZD/USD Above 0.8530 TG: 0.8545/ 0.8565 SL 0.8510
2. Sell NZD/USD Below 0.8575 TG: 0.8560/0.840 SL 0.8595