NZD/USD Outlook: Converged 200/10DMA's contain post-RBNZ bearish acceleration
|The Kiwi dollar is consolidating above one-week low at 0.6717, posted today on fresh bearish acceleration of pullback from 0.6790 (19 July recovery high), triggered by comments from RBNZ, which announced an update of its unconventional policy strategy, earlier today.
Fresh weakness found footstep at 200DMA (also rising 10DMA, which is on track to form golden cross and reinforce this strong support).
South-heading daily indicators warn of deeper pullback on break below converged 200/10DMA's, however, larger bulls from 0.6487 (14 June low) are expected to remain intact while the price stays above next key support at 0.6674 (Fibo 38.2% of 0.6487/0.6790/100DMA).
Res: 0.6759; 0.6790; 0.6830; 0.6872
Sup: 0.6717; 0.6692; 0.6674; 0.6648
Interested in NZDUSD technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.