NZD/USD: bulls taking charge

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - NZD/USD is currently trading at 0.6763 with a high of 0.6771 and a low of 0.6685.

    NZD/USD is back above the 200 SMA on the hourly chart and continues in a rebound from 0.6620 lows while the greenback gives up gains at the end of the month. The bird has been in demand on follow through with NZ data with business confidence and building permits. However, bulls should not get too carried away based on the divergence between the Central Banks.

    NZD/USD levels

    Technically, 0.68 is under threat with a good score for the bulls above the 200 SMA on the hourly chart. Support at 0.6580 stands as a key level. However, the 200 DMA at 0.7009 weighs on the price bird, despite a break above the 55 DMA at the start of October.
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