3 Aug 2015
NZD/USD steady around 0.6600 ahead of key data
FXStreet (Córdoba) - NZD/USD is about to finish the day flat, as it trades around 0.6600. After the begging of the week the pair bottomed at 0.6570 and then bounced to the upside. During the American session peaked at 0.6612.
The pair moved so far in a small range off less than 50 pips, on a quiet Monday for the currency market. Volatility is likely to rise in the coming days, with employment data from the United States and New Zealand due to be released.
NZD/USD unable to move off 0.6500
To the downside, the immediate support lies at 0.6550 and below here the key area to consider is 0.6500. The mentioned level capped the decline in July, from where it bounced to the upside. The recovery lost strength above 0.6700.
The pair has been losing ground since last Wednesday and today managed to remain steady. If it resumes the decline the 0.6550 zone is likely to become under pressure, on the upside the pair needs to rise back above 0.6660 In order to gains support to rise toward July highs. The next economic numbers will likely define the next move.
The pair moved so far in a small range off less than 50 pips, on a quiet Monday for the currency market. Volatility is likely to rise in the coming days, with employment data from the United States and New Zealand due to be released.
NZD/USD unable to move off 0.6500
To the downside, the immediate support lies at 0.6550 and below here the key area to consider is 0.6500. The mentioned level capped the decline in July, from where it bounced to the upside. The recovery lost strength above 0.6700.
The pair has been losing ground since last Wednesday and today managed to remain steady. If it resumes the decline the 0.6550 zone is likely to become under pressure, on the upside the pair needs to rise back above 0.6660 In order to gains support to rise toward July highs. The next economic numbers will likely define the next move.