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NZD/USD bulls tiring through 20 dma

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    NZD/USD is currently trading at 0.6643 with a high of 0.6775 and a low of 0.6617.

    NZD/USD has been in consolidation around the mid point of the 0.66 handle for the best part of this week and remains above the 200 dma at 1.06635 into the closing hours.

    Fundamentally, its been about the greenback this week and a number of data releases have been supporting risk apatite for US denominated assets propelling the US dollar forward across the G10's, but the antipodeans have been faring the best vs the strength of the greenback. We are short again in data for NZ next week, but we will look to Chinese manufacturing, the G20 and indeed the Aussie block buster releases that include GDP and the RBA.

    NZD/USD levels

    Technically, the bird is off the highs of 0.6775 and has fallen back below the 200 dma at 0.6651. Below here lies the cluster of ma's and the 50 dma at 0.6623 guarding the 0.66 handle and ultimately the Feb lows of 0.6461. On a continuation of the upside, the 0.68 is key objective before 28th Dec 2015 highs of 0.6883.
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