FXWIREPRO: NZD/USD Holds Above 10-Dma Support at 0.6728, Bias Lower
23 March 2016, 06:20
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FXWIREPRO: NZD/USD Holds Above 10-Dma Support at 0.6728, Bias Lower
- NZD/USD was rejected at day's high by 0.6769, and has slipped lower to currently trade at 0.6737 levels.
- 10-DMA at 0.6728 is strong support for the pair, breaks below could see downside resume.
- Momentum studies are bearish, daily Stochs and RSI are biased lower.
- Our short call (http://www.econotimes.com/FxWirePro-NZD-USD-sees-strong-resistance-at-06870-good-to-sell-rallies-181819) is progressing. We advise holding for targets.
- China's manufacturing PMI and US non-farm payrolls at the start of April as next likely catalysts for the pair.
Later in the week US durable goods (Thursday) and Q4 GDP (third estimate) (Friday) will also be in focus for further direction in the pair.
The material has been provided by InstaForex Company - www.instaforex.com
