NZD/USD Wavers in a 40-Pips Range Below 10-DMA
The NZD/USD pair
extends its choppy trend into the Asian trades this Thursday, unable to
find a clear direction as sentiment remains mixed, despite higher oil
prices.
NZD/USD supported at 0.6800
Currently,
the NZD/USD pair trades 0.15% lower at 0.6816, having posted day’s high
at 0.6839 and day’s low at 0.6805. The Kiwi trades with a bearish bias,
as deteriorating market sentiment amid mixed Asian equities curb the
appetite for risk and hence, weigh on the higher-yielding/risk currency
NZD.
However, the losses remains restricted on the back of
persistent weakness surrounding the US dollar against a basket of major
currencies, following a more dovish tone reflected by the FOMC minutes.
Nothing
relevant for the bird this session, and hence, attention shifts towards
the US session, which offers the US unemployment claims data.
NZD/USD Levels to consider
To
the upside, the next resistance is located at 0.6845/50 (10-DMA/
psychological levels), above which it could extend gains to 0.6900
(round number). To the downside immediate support might be located at
0.6723/18 (50-DMA/ daily S3) and from there to 0.6685 (100-DMA).
(Market News Provided by FXstreet)
