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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS 23/11/2022


NZDUSD


Daily volatility: 68 points.

The Reserve Bank of New Zealand (RBNZ) raised the interest rate by 75 basis points to 4.25%, the biggest rate hike ever in the central bank’s history.. The market responded positively with a peak in the kiwi. If the answer continues in this direction, the daily target price is 0.62036. Analysts at ANZ Bank are expecting traders' support for the New Zealand currency as the market is pricing in a 75bps hike in February, followed by 25bps hikes in April and May. However, this sequel will fuel recession fears and this could eventually weigh on the kiwi. Today, technically the indicators are green in strong buy.


Today the levels to keep an eye on are:

0.60623, 0.60895, 0.61119, 0.61296, 0.61513, 0.61744, 0.61880, 0.61928, 0.62036




USCOFFEE


Daily volatility: 7.6 $.

The price of coffee seems to have come out of the slough of negative consolidation below 160.670. With a rosy outlook towards 167,900 pending the transition from a deficit market in 2022 to a surplus in next year's season due to good rainfall in Brazil and cultivation in new terroirs in Nicaragua. The growth in demand should increase starting as early as the end of the year and then reach its peak in May 2023. Green coffee, a forerunner of roasted coffee, is already starting to flood the market, despite those who are trying to lose weight.


Today the levels to keep an eye on are:

155.241, 157.611, 160.670, 162.854, 165.230, 167.685, 17.478





XAGUSD


Daily volatility: 0.49 $.

Easing of the descending line that began on Tuesday of last week also there is the malaise it is only a temporary interruption of a deeper downturn that echoes the exceptionality of February 2020. But obviously here reasons and situation are completely different from the mood that hit the silver industry. Psychological support of $20 is a magnet for bears. From a technical point of view, the oscillators are bullish, supporting a relaxation of the price towards 21.80 with the 5-month high above $22 waiting.



Today the levels to keep an eye on are:

20.780, 20.900, 20.980, 21.080, 21.190, 21.320, 21.400, 21.540, 21.800, 22.050




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