OctaFX | OctaFX Forex Broker
Open trading account

NZD/USD: downside exposed despite minor recovery

FXStreet (Guatemala) - NZD/USD is currently trading at 0.6528 with a high of 0.6579 and a low of 0.6499.

NZD/USD has found its way back towards the mid-point of the 0.65 handle as the greenback sheds some gains while Fed chat is less hawkish. The NZD is however lagging while the Aussie sets a more bullish tone for the pacific region with yesterday's jobs data.

However, the kiwi will continue to suffer on the divergences between the Central Banks, with the RBA on hold, the Fed likely to raise rate sin Dec and the RBNZ sighted to ease again in the first Q1 of 2016 perhaps only housing prices and fears of a bubble standing in the way. Dairy and commodity prices struggle while China continues to offer headwinds in a slowing economy, weighing on commodity prices.

NZD/USD levels

0.6489 (Fib. 61.8%) and 0.6500 are key levels of support below the 55 DMA at 0.6518. However, the downside is favoured below the pivot of 0.6559 and R2 at 0.6602. The key target is 0.6420 is guarding the September lows and moving back on a continuation of the late April highs and downside. The 200 DMA at 0.6988 needs to be broken to alleviate immediate downside pressures.

USD/JPY: 122.50 is key support - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that USD/JPY is lower in the range.
Read more Previous

United States 30-Year Bond Auction climbed from previous 2.914% to 3.07%

United States 30-Year Bond Auction climbed from previous 2.914% to 3.07%
Read more Next
Start livechat