NZD/USD chart - Trading View
NZD/USD was trading 0.47% lower on the day at 0.6636 at around 10:35 GMT.
The pair has slipped lower from session highs at 0.6743 as the greenback gathers bids on rising risk-off.
Volatility is likely to remain high as it becomes apparent there is unlikely to be a clear cut outcome in the U.S. elections.
Focus on ADP October payrolls report for insight into this Friday’s US NFP data. ADP is expected tp add 650k jobs, slightly down from the 749k added in September.
Technical indicators for the pair do not provide a clear direction. 200W MA offers stiff resistance and price action has seen multiple rejections there.
Decisive break above 200W MA is required for upside continuation. That said, a 'Bearish RSI Divergence' keeps scope for downside.
Immediate support is seen at 110-EMA at 0.6561. Break below will see dip till 23.6% Fib at 0.6484 ahead of 200-DMA at 0.6391.
