FxWirePro: NZD/USD holds above 10-DMA support at 0.6728, bias lower
Wednesday, March 23, 2016 3:09 AM UTC
- 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.