NZD/USD breaks below 100-DMA, good to sell rallies

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
251 1 7
NZD/USD             breaks below 100-DMA at 0.7147 to hit fresh 4-week lows of 0.7125, intraday bias lower.

Kiwi extends weakness after market pricing for a Nov OCR cut has eased after upbeat NZ             business confidence data.

Markets await US non-farm-payroll figures for further momentum.

The lead indicators - PMI employment sub-indices, US consumer confidence, jobless claims suggest strong NFP figure.

Technicals are bearish , we see scope for further downside, test of 0.7086 levels likely.

Major support levels - 0.7086 (Aug 8 lows), 0.7026 ( trendline ), 0.70, 0.6969 (June 16 and 24 low)

Major resistance levels - 0.7147 (100-DMA), 0.7190 (5-DMA), 0.72, 0.7235 ( trendline )

Good to sell rallies around 0.7150, SL: 0.7235, TP: 0.71/ 0.7086/ 0.7026/ 0.70
Comment: TP 1&2 achieved.

NZD/USD edges higher from session lows at 0.7050.

Focus now on FOMC minutes.

Book partial profits, lower trailing stop to 0.7120
thanks for your view point.

may retest 0.72 i think but it is headed down in big picture.

personally may test again 0.65 as compared with monthly chart later of this year.

Like gbp usd , who know it is already tested 1.2 in last week!
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out