NZD/USD chart - Trading View
NZD/USD was trading 0.24% lower on the day at 0.7115 at around 08:10 GMT.
The pair is extending previous session's declines and price action cools off from multi-week highs hit on Friday's trade.
Renewed USD strength and souring risk appetite prompted some intraday selling around NZD/USD pair.
Declines have found strong support at 200-DMA (currently at 0.7114), breach below will see more downside.
Investors cheered upbeat China’s trade surplus data, China's August export growth unexpectedly picks up speed, imports solidly up.
China’s trade surplus came at USD 58.34 billion in August as compared with a surplus of USD 57.25 billion in the same month a year earlier.
Technical bias for the pair is bullish, but overbought oscillators may cause some pullbacks. Trend reversal only below 200-DMA and daily cloud.
