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NZD/USD steady at 2-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - NZD/USD reached at 0.6738 the strongest level since July. It remains trading near the 0.6740 area, consolidating gains, headed toward the tenth consecutive daily rise.

    So far it has been a day of thin trade and low volatility as markets remain close in the United States. The pair has been moving in a 30 pips range between 0.6739 and 0.6710 since early European session.

    Last week had the third weekly gain in a row and the biggest in months. It posted the first weekly close above the 20-SMA since April.

    NZD/USD technical levels

    To the upside, resistance levels lie at 0.6735/40 (July 29 & Oct 12 high), 0.6775 (July 10 high) and 0.6810 (Jun 23, 26 low). On the opposite direction support could be located at 0.6710 (session low & hourly 20-MA), 0.6670 (daily low) and 0.6645/50 (Oct 7 high).
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