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NZD/USD: below 100-DMA, but around hourly 100-MA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The NZD/USD pair was offered at a high of 0.6588 following which it made its way back below 100-DMA at 0.6566.

    Hovers around hourly 100-MA

    The pair now trades around its hourly 100-MA located at 0.6556 levels. The mixed Chinese data released earlier data had little impact on the Kiwi and the Aussie. Moreover, the broad based weakness in the USD in Asia helped the NZD/USD score gains.

    Ahead in the day, the focus is likely to be on the EUR/USD, which is expected to guide FX markets in the absence of fresh cues from the US markets.

    NZD/USD Technical Levels

    The immediate resistance is located at 0.6566 (100-DMA), above which the pair could target 0.6588 (daily high) and 0.66 handle. On the other side, support is seen at 0.6531 (50-DMA) and 0.65, under which the pair could fall back to 0.6456 (Sep 18 high).
    For more information, read our latest forex news.

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