NZDUSD declines below the handle in Forex market
10/18/2017 6:19:20 AM
The NZDUSD pair expanded yesterday's refusal slide from the 0.7210 handle and stayed under heavy selling pressure over early European session on Wednesday.
Immediate support is fixed near 0.7127 level, which if broken could pull the pair back towards the 0.7103 handle on the way several month lows support near mid-0.7015s.
On the positive aspect, .7172-85 zone now appears to act as immediate hurdle, above which the pair is probable to make a fresh effort towards conquering the 0.7211 handle before darting towards 45-day EMA near the 0.7227 area.
FOREX market analysis by FxErvin.