NZD/USD: a mixed picture within bullish trend above 200 dma

Ross J Burland FXStreet

Currently, NZD/USD is trading at 0.7176, up 0.17% on the day, having posted a daily high at 0.7224 and low at 0.7146.

NZD/USD is following suit of the Aussie, making a minor correction within a bull trend that has been supported by the 200 sma on the 1hr sticks, down at 0.7116 at time of writing. The pair broke the 200 dma at 0.7105 tis montha nd remains in shape still, although fragile. The focus was on China and Australia's trade overnight, disappointing in Australia, but better from China.

ECB conclusions after surprise annoucements - Westpac

The focus was on the ECB today that lifted the greenback due to the divergence widening between the Fed and ECB because the Fed will probably hike in December while for the NZ economy, some of the recent attention was on stronger dairy prices that have risen, supportive of the bird, overall, RBNZ Governor Wheeler sends mixed signals for the Kiwi – MUFG

NZD/USD levels

Spot is presently trading at 0.7176, and next resistance can be seen at 0.7181 (Hourly 20 EMA), 0.7188 (Daily Classic R1), 0.7195 (Weekly Classic R1), 0.7197 (Daily 100 SMA) and 0.7212 (Daily Classic R2). Next support to the downside can be found at 0.7169 (Yesterday's High), 0.7164 (Daily Open), 0.7164 (Weekly High), 0.7146 (Daily Low) and 0.7145 (Daily Classic PP).

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 0.7084

12% Bullish
88% Bearish
0% Sideways

Bias Bearish

1 Month

Avg Forecast 0.6964

7% Bullish
64% Bearish
29% Sideways

Bias Bearish

1 Quarter

Avg Forecast 0.6909

6% Bullish
78% Bearish
17% Sideways

Bias Bearish

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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