US dollar weakness apparent through NZD/USD

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - NZD/USD is currently trading at 0.6677 with a high of 0.6681 and a low of 0.6579.

    NZD/USD has defied gravity and taken advantage of the stops that were triggered propelling the bird higher and recent data in the US could be making a soft landing on any subsequent supply on the back of a weak dollar with the ISM datastrong>> that came out the worst since 2009 on the headline print. The GDT price index was also a supportive factor that could stabilize the bird on the bid with the first increase after three consecutive declines, being the last a drop of 7.9% two weeks ago.

    NZD/USD levels

    Technically, NZD/USD has left the MA resistances for dust including the 4hr 200 SMA at 0.6628 and up to test the 0.6680 resistance through R3 at 0.6661. The next key level is 0.6780 resistance as the high for Nov ahead of the psychological 0.68 level.
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