Back
2 Dec 2015
NZD/USD below 50% fib ahead of US ADP
FXStreet (Mumbai) - The NZD/USD fell below 0.6663 (50% of 0.6897-0.6428) ahead of the monthly private sector employment report in the US.
NZD down on profit taking
The currency fell after two-day rally largely due to profit taking. World dairy prices bounced back with a small rise yesterday’s auction after three drops running on the Global Dairy Trade (GDT) commodity auction.
The immediate focus now is on the US ADP report, which could show the private sector added 190K jobs in November.
NZD/USD Technical Levels
At 0.6655, the immediate resistance is seen at 0.6663 (50% of 0.6897-0.6428), above which the gains could be extended to 0.6718 (61.8% of 0.6897-0.6428). On the other hand, support is seen at 0.6645 (38.2% of 0.6236-0.6897).
NZD down on profit taking
The currency fell after two-day rally largely due to profit taking. World dairy prices bounced back with a small rise yesterday’s auction after three drops running on the Global Dairy Trade (GDT) commodity auction.
The immediate focus now is on the US ADP report, which could show the private sector added 190K jobs in November.
NZD/USD Technical Levels
At 0.6655, the immediate resistance is seen at 0.6663 (50% of 0.6897-0.6428), above which the gains could be extended to 0.6718 (61.8% of 0.6897-0.6428). On the other hand, support is seen at 0.6645 (38.2% of 0.6236-0.6897).