NZD/USD chart - Trading View
NZD/USD was trading 0.16% higher on the day at 0.6943 at around 7:50 GMT, extending gains for the 3rd straight session.
Price action has retraced into daily cloud, but outlook remains bearish. Decisive break above 21-EMA could change near-term dynamics.
Renewed concerns about China's property sector and looming U.S. labour data keeps investors from placing any aggressive bets.
Concerns remain that a collapse at Evergrande could hurt an already fragile Chinese economic recovery and weigh on global growth.
On the data front, U.S. labour data (due Friday) is expected to show continued improvement in the job market.
US economy is forecast to have added 460,000 jobs in September - enough to keep the Federal Reserve on course to begin tapering before year's end.
Major Support Levels:
S1: 0.6918 (5-DMA)
S2: 0.6865 (110-week EMA)
S3: 0.6763 (200-week MA)
Major Resistance Levels:
R1: 0.6969 (55-week EMA)
R2: 0.6994 (21-EMA)
R3: 0.7015 (55-EMA)
Summary: NZD/USD is trading higher for the 3rd straight session. Bias remains bearish as long as pair holds below 21-EMA. US jobs data in focus for direction.
