3 Mar 2016
NZD/USD rebounds from 10-DMA, nears 0.67 handle
The NZD/USD pair found bids near the 10-DMA at 0.6653 levels in Asia and rose to a high of 0.6698, tracking the oil price advance.
Up for third consecutive session
The spot is now trading higher for the third consecutive session. The Kiwi got a positive rub from the oil prices, which shrugged off bearish US inventories and strengthened in Asia. The pair currently trades around 0.6685 levels; up 0.12% on the day.
The currency pair managed to take out confluence of 5-DMA, 100-DMA and 200-DMA seen around 0.6638 levels. Ahead of the US services PMI data, the spot remains at the mercy of the oil price gyrations.
NZD/USD Technical Levels
The immediate hurdle is seen at 0.67;, which needs to be take out in order to test offers around 0.6730 (23.6% of 0.6263-0.6883). On the lower side, confluence of 5-DMA, 100-DMA and 200-DMA around 0.6638 is a major support, under which the pair could drift lower to 0.66 (psychological level).
Up for third consecutive session
The spot is now trading higher for the third consecutive session. The Kiwi got a positive rub from the oil prices, which shrugged off bearish US inventories and strengthened in Asia. The pair currently trades around 0.6685 levels; up 0.12% on the day.
The currency pair managed to take out confluence of 5-DMA, 100-DMA and 200-DMA seen around 0.6638 levels. Ahead of the US services PMI data, the spot remains at the mercy of the oil price gyrations.
NZD/USD Technical Levels
The immediate hurdle is seen at 0.67;, which needs to be take out in order to test offers around 0.6730 (23.6% of 0.6263-0.6883). On the lower side, confluence of 5-DMA, 100-DMA and 200-DMA around 0.6638 is a major support, under which the pair could drift lower to 0.66 (psychological level).