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NZD/USD: recovery still in place despite strong dollar

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - NZD/USD is bumping along the lows of the post Fed sell-off below the 0.67 handle and trades at the lowest point since 8th Dec.

    However, the price still remains in a minor recovery from 23rd Dec lows of 0.6220. Commodity markets stalled the birds advance today and gave the greenback a further post Fed boost. Markets are likely to be either dead calm or volatile from next week onward with it being holiday season and now that there is some near term clarity about the Fed and the narrative of a stronger dollar and money flows into dollar denominated assets should be welcomed by investors and supportive to the greenback for weeks ahead.

    NZD/USD levels

    Technically, the price en route for the 0.6869 mark where the 200 DMa is sat 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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