NZD USD started up over slight recovery
10/3/2016 1:07:20 PM
As we saw a sharp 30-pips descent in early Asia, the NZD/USD pair started up over a minor-recovery mode thereon, now meeting fresh supply once again near 0.7270 region, where 50-DMA accords.
Currently, the NZD/USD pair fell -0.32% to 0.7262, going back to daily lows struck at 0.7254 at Tokyo-open. The Kiwi held up its recovery mode, as the bulls ran into a strong persistence placed near 50-DMA at 0.7274 and now drives the spot deeper in the red, as risk conditions worsen among tumbling oil prices and resurgence of Brexit fears into the markets.
To the upside, the next persistence is placed at 0.7290, above which it could extend gains to at 0.7330. To the downside immediate support might be placed at 0.7220 and from there to at 0.7200.