NZD USD Trading News in Forex market 2
7/25/2017 2:56:31 PM
NZD/USD dropped under pressure and broke over two main levels last week. It broke to new highs at 0.7483.
Sustenance has come into play from a horizontal level at 0.7431 which is a point high posted on Thursday, best seen on an hourly chart.
Additional support for the currency pair is seen at 0.7410 tracked by the November 2016 high of 0.7377.
The net long increased from 31,907 contracts to 35,981 with a bulk of the recent rise as a result of a short covering.
FOREX market analysis by FxErvin.