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NZD/USD pushes higher near 0.6500

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Kiwi dollar keeps today’s buoyant tone vs. the greenback, now lifting NZD/USD to the proximity of the key barrier at 0.6500.

    NZD/USD focus on NZ data

    Spot has managed to rebound from recent 3-month lows near 0.6380, following a better tone in the risk-appetite trends and a renewed buying interest around commodities currencies.

    The Kiwi dollar will remain under pressure however, as another dairy auction is expected later in the session followed by NZ Q4 inflation figures (-0.2% QoQ exp.).

    NZD/USD significant levels

    At the moment the pair is up 0.78% at 0.6495 and a break above 0.6592 (100-day sma) would aim for 0.6641 (55-day sma) and finally 0.6696 (61.8% Fibo of 0.6892-0.6379). On the flip side, the immediate support lines up at 0.6379 (low Jan.14) followed by 0.6288 (low Sep.28) and then 0.6233 (low Sep.22).
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