NZD USD Recoiled back to lows in Forex market
5/3/2017 1:22:42 PM
During the Forex market the NZD/USD pair lost its momentum and has now recoiled back below mid-0.6910s.
A follow through retracement below the 0.6910 handle, the pair is probable to head slide towards 0.6867 horizontal support before finally targeting back towards the 0.6805 handle. On the upside, momentum back above mid-0.6910s now appears to boost the pair beyond 0.6967 area towards regaining the key 0.7005 psychological mark, also coinciding with 45-day SMA.
FOREX market analysis by FxErvin.