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NZD/USD: minor recovery after Nonfarm Payrolls, but...

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - NZD/USD is currently trading at 0.6528 with a high of 0.6537 and low of 0.6509.

    NZD/USD has seen a flurry of activity today as Fonterra's CEO, theo Spierings, addressed the China Business Summit in Auckland. There was some concern that Spierings said where Fonterra faces the risk of losing Chinese market share to European competitors. The initial dip in the bird came as markets swallowed the Chinese trade news before buying emerged. Moreover, we are in highly negative territory fundamentally following the Nonfarm Payrolls.

    NZD/USD levels

    Technically, the 55 DMA is being pressured at 0.6513 while hourly RSI (14) is recovering out of oversold territory as the price and downside is consolidating. 0.6420 and the vicinity of the yearly lows at 0.6235 are the next target where price recovered from in September this year.
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