FxWirePro: NZD/USD edges above 1H 200 SMA, Kiwi ignores drop in New Zealand consumer spending

NZD/USD chart on Trading View used for analysis

• NZD/USD fails to break above 200-DMA, slips below 5-DMA on Tuesday's trade.
   
• The pair has currently paused 2 straight sessions of falls and has edged marginally higher on the day.
   
• NZD/USD is trading 0.12% higher on the day at 0.6798 at the time of writing.
   
• Kiwi has largely ignored drop in New Zealand consumer spending, retraces dip below 1H 200 SMA.
   
• New Zealand credit card spending fell 0.1 percent m/m in October, following a 0.8 percent rise in September, the official data released earlier today showed.
   
• Bias is bearish, rejection at 200-DMA has raised scope for drag till 20-DMA. Break below cloud negates bullish bias. 
   
• Focus will be on the sentiment in the equity market and the action in Treasury yields. 

Support levels - 0.6791 (1H 200-SMA), 0.6712 (110-EMA), 0.6706 (Nov 12, 13 low)

Resistance levels - 0.6811 (38.2% Fib), 0.6827 (5-DMA), 0.6883 (200-DMA) 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.