NZD USD Stayed weaker in Forex market
8/31/2017 10:05:07 AM
The NZD/USD expanded its refusal slide from the 0.7305 region and ran through some fresh offers on weaker NZ business confidence figures.
From recent levels, the very important 150-day EMA near the 0.7133 area could protect the immediate weakness, which if broken would turn the pair at risk to break below the 0.7111 handle and head towards testing its next support near mid-0.7020s.
On the upside, the 50-day EMA support break-point, near the 0.7184 area, now appears to act as an immediate persistence, above which the pair could make a fresh effort to goal towards testing an important horizontal persistence near the 0.7246-58 area.
FOREX market analysis by FxErvin.