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Short

NZD/USD slips below 100-DMA, short rallies

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
195 1 6
2 months ago
NZD/USD             bias turns lower after rejection at major trendline resistance at 0.7265 on Thursday's trade.

The pair is extending grind lower, has broken below major supports - 20-DMA (0.7186), 100-DMA (0.7184), 38.2% Fib (0.7175).

Hawkish comments from Fed's Dudley which revived hopes of a Fed hike by the end of this year further weighing on higher-yielding currencies - like Kiwi.

Technical indicators on daily charts support bearish bias, RSI and Stochs are biased lower, MACD remains below zero.

Major support levels - 0.7109 ( Oct             7 low), 0.7080 (50% Fib), 0.7055 (trendline)0.7035 ( Oct             13 low)

Major resistance levels - 0.7175 (38.2% Fib), 0.7184 (100-DMA), 0.7250 (falling trendline)

Good to sell rallies around 0.7175/80, SL: 0.7250, TP: 0.7135/ 0.71/ 0.7080/ 0.7055
a month ago
Comment: TP1&2 hit.
mocem PRO
a month ago
Congratulations.
Reply
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