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NZD/USD chart on Trading View used for analysis
- NZD/USD fails to break above 200-DMA, slips below 5-DMA on Tuesday's trade.
- The pair has currently paused 2 straight sessions of falls and has edged marginally higher on the day.
- NZD/USD is trading 0.12% higher on the day at 0.6798 at the time of writing.
- Kiwi has largely ignored drop in New Zealand consumer spending, retraces dip below 1H 200 SMA.
- New Zealand credit card spending fell 0.1 percent m/m in October, following a 0.8 percent rise in September, the official data released earlier today showed.
- Bias is bearish, rejection at 200-DMA has raised scope for drag till 20-DMA. Break below cloud negates bullish bias.
- Focus will be on the sentiment in the equity market and the action in Treasury yields.
Support levels - 0.6791 (1H 200-SMA), 0.6712 (110-EMA), 0.6706 (Nov 12, 13 low)
Resistance levels - 0.6811 (38.2% Fib), 0.6827 (5-DMA), 0.6883 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
