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2 Jul 2015
NZD/USD: Minor recovery on NFP's ahead of Greek risk
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6715 with a high of 0.6739 and a low of 0.6654.
NZD/USD has been bid in the US session up to the aforementioned highs in a minor recovery of yesterday's and the start of the months strong downtrend's high. This was a follow through of late June's supply on the 0.72 handle and april/May double top in the vicinity of 0.87/0.8800 level. The greenback has been in supply on the back of the Nonfarm Payroll miss.
NZD/USD price action
0.6665 was the Asian low while 0.6654 was the base of the rally that occurred in Europe and London's business until a consolidation phase as we progressed through the US shift post the final bids as a result of the Nonfarm Payrolls results.
NZD/USD recovering on US Nonfarm Payrolls ahead of Greek referendum
NZD/USD made a minor recovery as profits were taken off the board ahead of the long weekend in the US, Nonfarm Payrolls release and risk events over the weekend while the bird had otherwise been the worst performance on the board vs the greenback this week. The Nonfarm Payrolls release resulted in a follow through of bids when the data missed expectations of 230k vs actual 223k. The referendum will take place this weekend and analysts at Westpac Banking Corporation explained the implications for NZD/USD here, and then explained that they maintain our negative outlook for NZD/USD, targeting 0.6550 by September. "If the current pace of decline persists, we’ll get there this month."
NZD/USD technically headed to 2010 lows?
NZD/USD traded to the lowest level since the beginning of the aforementioned levels from April/May and June highs. 0.6880 and 0.7000 come as first major key resistance ahead of 0.7200. A break of 0.6700 to the downside opens 2010 lows of 0.6572 on the map again.
NZD/USD has been bid in the US session up to the aforementioned highs in a minor recovery of yesterday's and the start of the months strong downtrend's high. This was a follow through of late June's supply on the 0.72 handle and april/May double top in the vicinity of 0.87/0.8800 level. The greenback has been in supply on the back of the Nonfarm Payroll miss.
NZD/USD price action
0.6665 was the Asian low while 0.6654 was the base of the rally that occurred in Europe and London's business until a consolidation phase as we progressed through the US shift post the final bids as a result of the Nonfarm Payrolls results.
NZD/USD recovering on US Nonfarm Payrolls ahead of Greek referendum
NZD/USD made a minor recovery as profits were taken off the board ahead of the long weekend in the US, Nonfarm Payrolls release and risk events over the weekend while the bird had otherwise been the worst performance on the board vs the greenback this week. The Nonfarm Payrolls release resulted in a follow through of bids when the data missed expectations of 230k vs actual 223k. The referendum will take place this weekend and analysts at Westpac Banking Corporation explained the implications for NZD/USD here, and then explained that they maintain our negative outlook for NZD/USD, targeting 0.6550 by September. "If the current pace of decline persists, we’ll get there this month."
NZD/USD technically headed to 2010 lows?
NZD/USD traded to the lowest level since the beginning of the aforementioned levels from April/May and June highs. 0.6880 and 0.7000 come as first major key resistance ahead of 0.7200. A break of 0.6700 to the downside opens 2010 lows of 0.6572 on the map again.