Friday, November 6, 2015

NZD/USD downside tested again; 0.6600 robust

FXStreet (Guatemala) - NZD/USD is testing the downside and pressuring the 0.66 handle on the back of the RBA statement that sent the Aussie a little lower on a mixed outlook from the RBA that can be read here.

Markets are nervous in fact ahead of the Nonfarm Payrolls to end the US week tonight. The Fed are tipped to hike interest rates in December and that sentiment has gathered pace this week with positive US data and Yellen suggesting that it may would be appropriate to do so. If the jobs results are strong, the greenback will likely surge and take the bird down with it.

Nonfarm Payrolls: Can it confirm a December rate hike?

NZD/USD levels

Technically, a breakout below 0.66 could be on the way to test 0.6515 and the 55 DMA. 0.6236 Sep lows would be the ultimate target ahead of the psychological key support of the 0.6200 level. However, fundamental disappointments on NFP's, on the flip side, would reveal on the upside on the wide 0.6705/20.
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