Friday, October 16, 2026

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FxWirePro: NZD/USD recovery capped shy of 0.71 handle, focus on FOMC minutes

NZD/USD edges higher from session lows at 0.7050 on short covering rally after the recent sell-off. Broad-based US dollar weakness ahead of the FOMC minutes, also lends support. Upside capped shy of 0.71 handle, we could…

By FxWirePro Team
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FxWirePro: NZD/USD recovery capped shy of 0.71 handle, focus on FOMC minutes
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  • NZD/USD edges higher from session lows at 0.7050 on short covering rally after the recent sell-off.
     
  • Broad-based US dollar weakness ahead of the FOMC minutes, also lends support.
     
  • Upside capped shy of 0.71 handle, we could see some consolidation at current levels.
     
  • Focus remains on the Fed speaks and FOMC meeting minutes for further momentum on the pair.
     
  • Major support levels - 0.7026 (trendline), 0.70, 0.6969 (June 16 and 24 low) 
     
  • Major resistance levels - 0.7119 (5-DMA), 0.7158 (100-DMA), 0.7187 (cloud base), 0.72 
     
  • Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-breaks-below-100-DMA-support-good-to-sell-rallies-337955) has achieved TP1.
     
  • Recommend booking partial profits, lower trailing stops to 0.7120, hold for targets.
     

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By FxWirePro Team