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NZD/USD signal - USD 3 month bill auction 11 Jan 2021

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Signal Details
Entry Price: 
0.72723
Take Profit: 
0.7171
Stop Loss: 
0.72570
Direction: 
Sell
How we trade
Average: 5 (2 votes)

NZD/USD is trading to the downside today prior to the USD 3 month bill auction. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. Investors monitor the yield volatility and compare the average rate at auction to the rate at previous auctions of the same security as an indicator of the government debt situation. technically the pair is trading below the 50 moving average and we anticipate further downside into the 0.7171 level.

Submitted by Toni H. on Sun, 10 Jan 2021 22:09:53 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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