14 Sep 2015
NZD/USD downside compelling while capped at 200 SMA
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6318 with a high of 0.6326 and low of 0.6305.
NZD/USD drifted to the upside and towards the hourly 200 SMA in last week's close in NY after a heavy decline post the RBNZ from the vicinity of the 0.64 handle.
The US session saw a sell-off in the greenback and demand for commodities at the end of the week last week and the Kiwi was buoyed following a heavy decline when the RBNZ cut interest rates again and explained that door is wide open for substantial cuts depending on data.
NZD/USD capped by 200 SMA
Technically, the 200 SMA at 0.6324 is capping a minor recovery attempts in the bird and pressures remain to the downside with a bearish bias across the indicators. 0.64 remains the upside target while to the downside, 0.6280 and 0.6250 guards 0.6220.
NZD/USD drifted to the upside and towards the hourly 200 SMA in last week's close in NY after a heavy decline post the RBNZ from the vicinity of the 0.64 handle.
The US session saw a sell-off in the greenback and demand for commodities at the end of the week last week and the Kiwi was buoyed following a heavy decline when the RBNZ cut interest rates again and explained that door is wide open for substantial cuts depending on data.
NZD/USD capped by 200 SMA
Technically, the 200 SMA at 0.6324 is capping a minor recovery attempts in the bird and pressures remain to the downside with a bearish bias across the indicators. 0.64 remains the upside target while to the downside, 0.6280 and 0.6250 guards 0.6220.