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NZD/USD retakes 0.6800, session tops

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Kiwi dollar is following the rest of its risk-associated peers on Thursday, lifting NZD/USD to multi-day peaks beyond the 0.6800 mark.

    NZD/USD stronger post-Fed

    The selling interest keeps hurting the US dollar in the second half of the week, boosting the pair to the 0.6810/15 area, closer to March highs at 0.6823 (March 4).

    The unexpected dovish tone from the Fed at its meeting yesterday has triggered an abrupt reversion of USD-longs, giving extra oxygen to hih-beta currencies and commodities.

    Empty docket in NZ will leave the attention to the US releases, with Initial Claims and the Philly Fed manufacturing Survey due later.

    NZD/USD relevant levels

    As of writing the pair is up 1.18% at 0.6805 facing the next resistance at 0.6823 (high Mar.4) ahead of 0.6893 (monthly high Dec.25) and then 0.7000 (psychological level). On the other hand, a breach of 0.6693 (20-day sma) would expose 0.6640 (100-day sma) and finally 0.6575 (low Mar.16).
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