FxWirePro
Short

NZD/USD breaks 0.65 handle, hits 2-1/2 year low, eyes 0.6370

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Greenback buoyed by upbeat Economic data from the US and comments from top U.S. policymakers.
US ISM non-manufacturing activity index jumped 3.1 points to 61.6 last month, the highest reading since August 1997.
Also, private payrolls rose by 230,000 jobs in Sept, the largest gain since Feb, ADP report showed, after an upwardly revised 168,000 increase in August.
Federal Reserve policymaker Charles Evans said inflation expectations have not gone up as much as he would have liked and he was comfortable with a December interest rate hike.
Powell on Tuesday hailed a "remarkably positive outlook" for the U.S. economy that he feels is on the verge of a "historically rare" era of ultra-low unemployment and tame prices.
Price action has closed below 20-DMA and Bollinger Bands are widening suggesting rise in volatility .

The major is extending drag in a sloping channel pattern and we see scope for weakness till channel base at 0.6370.


Oct 05
Comment: NZD/USD hits new multi-year lows at 0.6459, bias lower.
Focus on the US NFP data for further impetus. Expectations for a stronger NFP report keep downside pressure.
Markets expect a healthy non-farm payrolls print today following the ADP report and strong ISM services data.
US labor market is forecast to have produced 188,000 new jobs in September (risk is for a stronger number).
I agree with your bearish view on NZDUSD, we have found resistance level at 0.65366 which is a horizontal overlap resistance, 23.6% fibonacci retracement.
Aditionally RSI is also showing a bearish exit.
Glad that we have the same view on NZDUSD:

Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out