NZD USD Declines on FOREX trading market
12/27/2016 9:30:45 AM
After yesterday's recovery rebound on FOREX trading market , the NZD/USD pair came under repeated selling pressure on Tuesday and is now trading back below 0.6910 handle.
Currently trading around 0.6890 area, the pair persisted closer to last week's nearly 7 month low among increasing dollar buying interest, although required momentum in wake of thin trading in wake of Christmas holidays.
Instant support on the downside is seen near 0.6857 area below which the pair is expected to immediately float towards 0.6817 horizontal support ahead of 0.6797 round figure mark. On the upside, momentum above 0.6905 handle might carry on to confront persistence near 0.6927 area, which if cleared might cause a short-covering recoil towards 0.6955 persistence, on the way 0.7005 psychological mark.
FOREX Fundamental Analysis
Written by FxErvin