NZD USD Moving somewhat back to lows in Forex market
6/5/2017 9:20:11 AM
The NZD/USD pair traded with a minor bearish bias over Asian session and now located at session lows around 0.7117 area.
From current levels, the 0.7105 handle is probable to act as immediate support, which if broken could pull the pair back towards 85-day EMA support near 0.7056 area with some middle support around 0.7083 level.
On the upside, 0.7147 area now appears to have arisen as immediate strong hurdle, above which the pair appears all set to aim towards regaining the 0.7203 handle before heading towards its next persistence near 0.7227 area.
FOREX market analysis by FxErvin.