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Israeli Prime Minister Netanyahu: We can attack Iran at any time.On September 3, the Iranian Foreign Ministry issued a statement on September 2, local time, strongly condemning the US military action against Iran. The statement said the US attacked multiple demilitarized zones, ports, communication facilities, and other civilian infrastructure in the provinces of Khuzestan, Sistan-Baluchistan, Hormozgan, and Kerman, causing casualties and property damage. The statement said that a US attack on a wedding in Sirik district of Hormozgan province resulted in the deaths and injuries of more than 70 Iranians, most of whom were women and children. The Iranian Foreign Ministry stated that the actions violated basic principles of international law and international humanitarian law. The statement indicated that the Iranian armed forces, in accordance with the right of self-defense under the UN Charter, carried out a "defensive and deterrent strike" against US military bases that served as the starting point and logistical support for the US attacks on Iran. Iran also urged regional countries to prevent the US from using its territory and airspace to conduct military operations against Iran and called on the UN Security Council and the UN Secretary-General to fulfill their responsibilities to prevent further escalation of the situation.Israeli Prime Minister Netanyahu: If Iran chooses to attack us, they know it will be one of their final decisions.Spokesperson for the UN Secretary-General: The Secretary-General is concerned about reports of casualties from the US attack on Iran.The Mayor of Moscow: Three more drones flying towards Moscow were shot down today. This brings the total number of destroyed drones to 28.

Price Analysis: NZD/USD Symmetrical Triangle Indicates Decreasing Volatility, US NFP Awaited

Daniel Rogers

Feb 03, 2023 15:27

NZD:USD.png 

 

The NZD/USD pair is drifting sideways below the immediate resistance level of 0.6480 during the Asian session. The New Zealand dollar has traded sideways as investors await the publication of Caixin Services PMI and United States Nonfarm Payrolls (NFP) statistics for fresh impetus.

 

Weak earnings have broken the three-day winning streak of S&P500 futures, which are now displaying significant losses and a risk aversion trend. After a corrective dip, the US Dollar Index (DXY) is aiming to recapture Thursday's high above 101.55 as investors' risk appetite has reduced dramatically.

 

The NZD/USD pair is displaying a chart pattern known as a Symmetrical Triangle, which indicates a significant compression of volatility. The upward-sloping trendline of the chart pattern is taken from the low on January 19 at 0.6365, while the downward-sloping trendline is derived from the high on January 18 at 0.6531. The New Zealand asset saw a dramatic loss on Thursday after failing to find buying support following a breakout, which resulted in a fakeout that kept investors at unsustainable levels.

 

The Relative Strength Index (14) has moved from the bullish region of 60.00-80.00 to the neutral region of 40.00-60.00, indicating that a consolidation is imminent.

 

A decline below the January 31 low of 0.6412 will cause the New Zealand dollar to decline toward the January 17 low of 0.6366 and ultimately the January 12 low of 0.6300.

 

In contrast, for the asset to resume its upward trend, it must surpass Thursday's high of 0.6538, which would catapult it to June 3's high of 0.6576. A breach of this level will expose the asset to the 0.6600 level of resistance.


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