NZD/USD: bears remains in control despite pick up in commodities

Currently, NZD/USD is trading at 0.7065, down -0.47% on the day, having posted a daily high at 0.7116 and low at 0.7035.

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Despite a pick up in commodities, the greenback remains in the top spot, (DXY inter-markets: door open for 102.00?), and has pressured the antipodeans to fresh lows for the month and breaking below 0.7060 (H&S neckline) in the case of the bird. However, analysts at Westpac argue that the NZ economy is strong and noted the dairy prices have risen, although, overall they are left with a bearish outlook and are targeting 0.70. 

NZD/USD levels

Spot is presently trading at 0.7066, and next resistance can be seen at 0.7071 (Yesterday's Low), 0.7076 (Hourly 20 EMA), 0.7099 (Monthly Low), 0.7099 (Weekly Low) and 0.7099 (Daily Open). Support below can be found at 0.7065 (Daily Classic S1), 0.7035 (Daily Low), 0.7030 (Daily Classic S2), 0.7021 (Daily 200 SMA) and 0.7020 (Weekly Classic S1).