NZD USD moved to positive territory
1/13/2017 9:42:00 AM
As see in the FOREX market after an early dip below 0.7105 handle, the NZD/USD pair reclaimed traction and turned positive for the 3rd successive session.
Currently trading around 0.7157 area, the pair caught fresh bids near an important convergence persistence, now turned immediate support, near 0.7080-85 area including of the very important 200-day and 50-day SMAs.
From current levels, additional upside momentum is likely to provoke immediate persistence at 100-day SMA near 0.7157 area above which a fresh bout of short-covering appears to help the pair back towards reclaiming 0.7210 handle ahead of December monthly highs persistence near 0.7235-45 area.
On the downside, 0.7075 area now appears to have emerged as immediate support below which the pair is likely to float back towards 0.7047 region, on the way 0.7015 support and 0.7010 psychological mark.
FOREX Fundamental Analysis
Written by FxErvin