The Kiwi Dollar has appreciated during yesterday’s session in anticipation of the unemployment announcement due today.

Kiwi dollar gained almost 55 pips yesterday from 0.6962 to a candle close at 0.7015. Prices started to move upwards leading to the unemployment announcement.

Prices have been trading within this channel and we could see prices reacting to the top of the channel in conjunction with the last high which was printed on 15th of July. On another hand, we could see a fake out as prices as in sitting on this resistance area and prices could trade lower than yesterday’s close.

What do you think? Let us know in the comments below.

The analysis is presented by Andre Almeida, BlackBull Markets.

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