NZD/USD is recovering from new 2-month lows hit on Thursday after taking support by 100-DMA (currently at 0.6717). Minor-recovery seen in the oil prices and the Asian equities, helping lift demand for higher-yielding cur…
Focus now shifts towards the US existing home sales and Fed speak due later in the NY session.
To the upside, the next resistance is located at 0.6769(5-DMA), above which it could extend gains to 0.6800.
To the downside immediate support might be located at 0. 6736 (cloud base) and then at 0.6717 (100-DMA).
Stochs are at oversold levels which suggest some pullback, however longer term bias is lower. We advise waiting for further confirmation to take any trading call.
