Monday, September 28, 2015

NZD/USD bulls eye 0.64 territory while above 200 SMA

FXStreet (Guatemala) - NZD/USD is currently trading at 0.6372 with a high of 0.6378 and a low of 0.6357.

NZD/USD has been making a strong recovery towards the end of September's business, with a rally from 0.6240 and approached the 0.64 handle at the close of last week's session. However, the recovery was capped at 0.6390 and dropped away to 0.6358 before stabilizing and heading back into the 0.6370's where the bird oscillates at the start of Asia this week.

Key data for NZD/USD

The key data will be in the Nonfarm Payrolls release in the US session on Friday, keeping in mind, "Will they or won't they?" in October's FOMC. There are only a handful of second tier inputs from New Zealand that include retail sales M/M for August expected to rise from -0.1% to 0.4%.

NZD/USD levels

Technically, the price remains above key MA's on the hourly, leaving the pair in bullish territory above the 200 SMA at 0.6334 while MACD remains above its mid-line and RSI (14) at 58 is neutral. Support comes at 0.6309, 0.6293 and 0.6277 while price targets the 0.64 handle and recent aforementioned highs.
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