NZD USD Failed to increase over the handle
6/19/2017 8:06:30 PM
The NZD/USD pair cut some of its early Asian session gains and recoiled over 27-pips from closer to the 0.7303 area.
The pair, though, has succeeded to hold in positive territory for the second sequential day and is currently trading around 0.7267 band among tinny trading activity at the start of a new week.
Immediate support is fixed near 0.7252 level, below which the pair is probable to speed up the slide towards 0.7217 region before finally falling back below the 0.7203 handle towards retesting 0.7175 horizontal support.
On the upside, constant momentum above the 0.7303 handle is probable to get expanded beyond last week's 3-month highs persistence near 0.7323 level towards its next hurdle near mid-0.7303s.
FOREX market analysis by FxErvin.