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NZD/USD: downside playing out towards 0.76 handle and key support

Ross J Burland FXStreet

NZD/USD is consolidated and remains under pressure within the August downtrend.

NZD/USD was able to rally on Wheeler, but his less dovish tone is not enough to to carry the bird through the 200 sma on the 1hr sticks at 0.7658 and has let the NZD exposed to target 0.7580 and August lows. Data wise, the New Zealand Exports came in at $3.96B, below expectations ($4.07B) in July. The US data wasn't any more impressive with some minor releases also missing expectations ahead f the Jackson hole at the end of the week.

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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NZD/USD: downside playing out towards 0.76 handle and key support

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