Monday, November 16, 2015

NZD/USD mixed in a risk-off opening session after Paris terror

FXStreet (Guatemala) - NZD/USD is starting out the week mixed, but remains under pressure below the 200 SMA on the hourly chart in a continuation of the bearish trend of July 2014. The markets are mixed in respect to the Paris terror on the weekend while risk-off gets under way.

A number of factors have been weighing on the bird, despite a strong greenback, the NZ economy is wearing the commodities market's downturn heavily but some slightly better news arrived with Fonterra increasing its forecast earnings per share range. Retails sales was also a positive today coming in at 1.6% vs 1.4% expected. Key this week will be US CPI and FOMC minutes/Fed speakers as well as GDT price index.

NZD/USD levels

Technically, 0.6489 (Fib. 61.8%) and 0.6500 remain the key levels of support while the bird trades through the 55 DMA at 0.6523 now. The key target is 0.6420 before the September lows .The 200 DMA at 0.6967 needs to be broken to alleviate immediate downside pressures.
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