FxWirePro: NZD/USD finds strong support at 0.6949 (1H 200-SMA), weakness only on break below
USD strongly bid on Friday after US non-farm payrolls for Dec released last Friday, came in close to expectations, saw a solid jump in wages growth. NZD/USD retraced from highs of 0.7043 on Friday to close below 20-DMA. …
USD strongly bid on Friday after US non-farm payrolls for Dec released last Friday, came in close to expectations, saw a solid jump in wages growth.
NZD/USD retraced from highs of 0.7043 on Friday to close below 20-DMA.
The pair finds strong support by 1H 200-SMA at 0.6949, break below will see weakness upto 0.6885.
Intraday bias is neutral. Close above 20-DMA could see further upside support.
Comments from Fed’s Rosengren and Lockhart will be in Focus. Any boost in expectation of a steeper rate hike path in 2017 could weigh on the pair.
Support levels - 0.6967 (5-DMA), 0.6954 (trendline), 0.6949 (1H 200-SMA)
Resistance levels - 0.70 (23.6% Fib of 0.74854 to 0.68621 fall), 0.7077 (200-DMA), 0.7102 (38.2% Fib), 0.7145 (trendline)
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -35.7686 (Neutral), while Hourly USD Spot Index was at -77.9218 (Bearish) at 0230 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
