FxWirePro: NZD/USD extends descent on disappointing Chinese manufacturing PMI
Disappointing Chinese manufacturing PMI data triggered fresh selling in the New Zealand dollar, Chinese manufacturing PMI report came in at lowest levels in two years NZD/USD extended its descent from Friday overnight, f…
Disappointing Chinese manufacturing PMI data triggered fresh selling in the New Zealand dollar, Chinese manufacturing PMI report came in at lowest levels in two years
NZD/USD extended its descent from Friday overnight, fell to as low as 0.6571, and is currently paring some of its loses to trade at 0.6583
Price action was rejected by highs at 0.6673 on Friday, Stochs see bearish crossover and 4-hourly price action has dipped below the cloud
Next resistance is located at 0.6603 (4h Tenkan-Sen) above which it could extend gains to 0.6642 (July 27 High)
On the downside immediate support might be located at 0.6556 (July 27 Low) below that at 0.6544 (Session low July 31)
