NZD USD declined to session low
12/30/2016 12:48:52 PM
NZD/USD got to weekly highs at 0.6975 in forex market, but failed to stand at higher levels and dropped hard towards the mid-point of 0.6905 handle.
At present, the NZD/USD pair trades -0.11% lower near session troughs of 0.6954, eyeing a break below 0.6947 – psychological levels. The Kiwi met fresh supply as broad based USD selling stalled among a tepid recovery in the treasury yields.
To the upside, the next persistence is placed at 0.7005, above which it could expand gains to 0.70135 and from there to 0.7078. To the downside immediate support might be placed at 0.6885 and from there to at 0.6855, below which 0.6805 would be tested.
FOREX Fundamental Analysis
Written by FxErvin