NZD/USD eyes a break through 200 DMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - NZD/USD is finishing up for a triple attempt on the upside shy of the 200 DMA at 0.6857 in a recovery from 0.6244 and 6th Sep lows while the dollar softens as we close down ahead of the holiday.

    For US data, analysts at Brown Brothers Harriman noted that the US reports weekly jobless claims for the week ended December 19. "The previous week (which coincides with the BLS survey week), initial claims fell to 271k. The Atlanta Fed's GDPNow model now puts Q4 GDP growth at 1.3% SAAR, down from 1.9% previously due to yesterday's November personal spending data."

    NZD/USD levels

    Technically, NZD/USD a break of the 200 DMA would open up prospects of the 0.70 handle while closes there would have price run for a close of the bearish gap at 0.7107. Otherwise, a reversal looks in at the 20 DMA at 0.6710 and S3 at 0.6712.
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