• NZD/USD is recovering from new 2-month lows hit on Thursday after taking support by 100-DMA (currently at 0.6717).
   
• Minor-recovery seen in the oil prices and the Asian equities, helping lift demand for higher-yielding currencies.
   
• Our previous call (http://www.econotimes.com/FxWirePro-Kiwi-on-the-back-foot-NZD-USD-slips-below-078-handle-good-to-sell-rallies-209544) has hit all targets. Further weakness only on breaks below 100-DMA at 0.67.
   
• Focus now shifts towards the US existing home sales and Fed speak due later in the NY session.
   
• To the upside, the next resistance is located at 0.6769(5-DMA), above which it could extend gains to 0.6800. 
   
• To the downside immediate support might be located at 0. 6736 (cloud base) and then at 0.6717 (100-DMA).
   
• Stochs are at oversold levels which suggest some pullback, however longer term bias is lower. We advise waiting for further confirmation to take any trading call.