- Commodity-currencies higher across the board, NZD/USD spikes to hit fresh 4-month highs
- Earlier today, the pair found renewed support after ANZ Consumer Confidence Index rose 3.7% in Oct to 114.9 points from 110.8 in Sept
- But price action was rejected just shy of 0.69 barrier and the pair edged lower to currently trade at 0.6854
- Daily momentum is positive, 10 & 30-DMAs are positively aligned, meaning the underlying bias remains on the upside
- Diverging 30-day bolli-bands highlights the increase in volatility, immediate resistance is located at 0.6897 (Session High Oct 15), while support lies at 0.6788 (Session Low Oct 15)
- Due ahead are US CPI inflation and jobless claims data, which will be keenly watched for cues
Resistance Levels:
R1: 0.6897 (Session High Oct 15)
R2: 0.6916 (Daily High Jun 26)
R3: 0.6924 (Daily High Jun 25)
Support Levels:
S1: 0.6788 (Session Low Oct 15)
S2: 0.6769 (30-Day Upper Bollinger)
S3: 0.6757 (Hourly Low Oct 14)
