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NZD/USD: flat despite last data positive for NZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - NZD/USD was muted on the ANZ business confidence reading and remains in a very tight range sideways for the end of the week.

    The Fed hike has been done and we now head into the thin trading season where moves could be expected to be wild or indeed flat considering most participators will be in holiday mode and awaiting the New Year to get busy again.

    The greenback is likely to remain supported by repatriation flows and on the back of the divergence between the Central Banks. The ANZ New Zealand Business Zealand Business Confidence came in 23 and beat prior of 14.6 and the activity outlook came in at 32%.

    NZD/USD levels

    Technically, on the wide, the price targets the 0.6869 mark where the 200 DMA is located and to the downside, the 100 DMA at 0.6553 through the cluster of MA's guards the Nov lows at 0.6489. S1 in the meantime is 0.6724 and S3 at 0.6604.
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