NZD/USD remains capped by the 200 dma

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    NZD/USD is currently trading at 0.6620 with a high of 0.6669 and a low of 0.6605.

    NZD/USD is down through the 100 sma at 0.6620 on the hourly chart. The cross has run out of steam in the recovery from 0.6545 levels and lows for this week while the greenback is making a steady comeback in some areas on the board and while oil gathers some traction in an improved risk environment. The main focus when it comes to the bird is the RBNZ and markets are looking at data closely to see whether the RBNZ might be persuaded to act as early the first opportunity after March's data.

    NZD/USD levels

    NZD/USD is drifting lower towards range 50 sma on the hourly sticks at 0.6604 and a loss of the handle opens recent aforementioned lows for the week. 0.6420 is the next target for previous channel support line. To the upside, the 200 dma at 0.6674 caps recovery attempts ahead of Feb highs of 0.6748.
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