30Sep
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IForex Market Trading Signals and News – 30 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Dollar lower against firmer yen amid China growth fears
  • FOREX – Euro hits day’s lows on weak German inflation data
  • FOREX – Commodity currencies recover, subdued German inflation hits euro

NZD/USD
The New Zealand dollar slid lower against its U.S. counterpart on Tuesday, hovering close to a recent six-year trough as risk-aversion continued to dominate market sentiment amid global growth worries.NZD/USD hit 0.6290 during late Asian trade, the pair’s lowest since September 24; the pair subsequently consolidated at 0.6302, sliding 0.44%. The pair was likely to find support at 0.6233, the low of September 23 and resistance at 0.6406, Monday’s high.Market sentiment was hit after International Monetary Fund head Christine Lagarde said in an interview on Monday that the IMF is likely to revise downwards its estimates for global economic growth due to slower expansion in emerging economies.The U.S. dollar was also boosted by data on Monday showing that U.S. personal spending rose 0.4% in August, beating expectations for an increase of 0.3%. The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.21% to 1.1020.

AUD/USD
The Australian dollar dropped against its U.S. counterpart on Tuesday, re-approaching a six-year low as global growth concerns continued to weigh on sentiment and as expectations for a U.S. rate hike in the coming months supported the greenback. AUD/USD hit 0.6937 during late Asian trade, the pair’s lowest since September 24; the pair subsequently consolidated at 0.6952, declining 0.54%. The pair was likely to find support at 0.6893, the low of September 7 and a six-year low and resistance at 0.7035, Monday’s high. Market sentiment weakened after International Monetary Fund head Christine Lagarde said in an interview on Monday that the IMF is likely to revise downwards its estimates for global economic growth due to slower expansion in emerging economies.The U.S. dollar was als boosted by data on Monday showing that U.S. personal spendingrose 0.4% in August, beating expectations for an increase of 0.3%. The Aussie was lower against the euro, with EUR/AUD advancing 0.83% to 1.6220.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5170 TARGET 1.15190 1.5220 SL 1.5140
  • SELL GBP/USD BELOW 1.5140 TARGET 1.15120 1.5090 SL 1.5170

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