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NZD/USD back into middle of rising channel

FXStreet (Guatemala) - NZD/USD is trading at 0.7872, up 0.09% on the day, having posted a daily high at 0.7881 and low at 0.7851.

NZD/USD is a slow burner on the hourly chart in consolidation of the fierce move in the greenback, correcting the sell off and getting back into neutral territory. On a slightly longer time frame, the pair is moving in a rising channel still, breaking to the upside on the 2nd October and selling off to establish the support at 0.7705/15 zone and here we are testing the rising resistance but failing into the the closing hours of Asia ahead of the psychological 0.80 handle. We may need to wait for another day to see if a breakout can occur either way, with odds stacking up in favouritism for the greenback below 0.8000.

NZD/USD noteworthy levels

Current price is 0.7873, with resistance ahead at 0.7880 (Hourly 20 EMA), 0.7881 (Daily High), 0.7895 (Daily Classic PP), 0.7897 (Weekly Classic R1) and 0.7906. Next support to the downside can be found at 0.7865 (Daily Open), 0.7851 (Daily Low), 0.7845, 0.7838 (Hourly 100 SMA) and 0.7827 (Hourly 200 SMA).

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