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Add as a preferred source on Google FxWirePro: NZD/USD rejected at session high, slips below 0.73 handle Broad-based USD strength after hawkish Fed comments keeps NZD/USD subdued. Data released earlier today showed unemployment rate fell to 5.1% and PPI rose 0.9% q/q versus expected 0.5% rise. Kiwi largely muted to data, fa…
By FxWirePro Team Aug 17, 2016, 7:26 AM UTC
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Broad-based USD strength after hawkish Fed comments keeps NZD/USD subdued.
Data released earlier today showed unemployment rate fell to 5.1% and PPI rose 0.9% q/q versus expected 0.5% rise.
Kiwi largely muted to data, failed to extend upside, was rejected at highs by 0.7322 and has slipped below the 0.73 handle.
Major trendline support is seen at 0.7190, break below will find next major support by 50-DMA at 0.7135.
Focus now on FOMC meeting minutes, later during NY trading session, which would determine further direction.
Recommendation: Good to go short break below 0.7190, target 0.7135/ 0.7085
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