"risk off" movement yesterday during the US session dragged classic "risk currencies" such as AUD / USD and EUR / USD lower. NZD / USD was not sparred with lower prices from a high of 0.8605 to a low of 0.85715. that said, the bulls stood pretty well, limiting losses NZD / USD compared to its counterparts, where prices are currently trading below the American closing levels on Wednesday.
Price is currently remain above 0.8525, the level at which prices reached after RBNZ rate hike yesterday. staying above this level key, pressure bullish overall remains intact and we could see prices difficult 0.856 resistance again . stochastic indicator agrees with Stoch curve currently in a bull cycle, which promotes the continued upward movement.
Considering that prices are currently higher despite growing European session as showing off bearish sentiment (Dax -0.64% -0.28% FTSE 100 and CAC 40 -0.45% at time of writing), it there are good reasons to believe that prices will at least remain strong, although the US session proves to be bearish once again.
More Links:
GBP / USD - Pound Recovers and Flirts with 1.67
USD / CAD - US Dollar loses ground despite positive employment data
USD / JPY - Yen Up As manafacturing Impresses Japanese data
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Read More : NZD/USD Technicals – Bullish Above 0.8525
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