NZD USD Started stabilization level
7/18/2017 7:02:37 PM
According to Forex market, the NZD/USD pair has entered a level of upside stabilization over the last hour, after having presented a solid recoil towards the mid-point of 0.7305 handle from NZ CPI-led decline.
The Kiwi reversed whole NZ CPI data-led slide and resumed to NY tops reached yesterday at 0.7348 levels, before meeting fresh supply to now trade around 0.7337 levels, still up +0.18% on the day.
NZD/USD holds well above 0.7305, with a break above 0.7348/58 could open doors for a test of 0.7377. To the weakness lies 0.7210 still protecting 0.7187 and a breakdown back below 0.7155 are key near-term weakness areas.
FOREX market analysis by FxErvin.