NZD/USD Analysis: Awaits US data releases

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

Bears continue their dominance in the market for the NZD/USD currency pair. During the first part of Thursday's session, the exchange rate tested the 200-hour simple moving average at 0.6863.

If this support level formed by the 200-hour SMA holds, the pair could aim for a re-tests of the weekly R1 at 0.6932.

However, if the pair passes the support line, a potential breakout through the lower boundary of an ascending channel at 0.6843 is likely to occur.

Meanwhile, the US macroeconomic data releases schedule at 15:00GMT could change the overall positioning of the currency exchange rate.

Interested in NZDUSD technicals? Check out the key levels

1. R3 0.6985
2. R2 0.6965
3. R1 0.693
PP 0.691
1. S1 0.6874
2. S2 0.6854
3. S3 0.6819

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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