NZDUSD Trading News
2/26/2018 9:21:05 AM
The NZDUSD pair rapidly reversed an early dip to sub-0.7303 level, nearer to Friday's near two-week lows, and has achieved to recoil over 60-pips from session lows.
The pair has now recovered a main part of Friday's sharp reduction and moved back nearer to its immediate persistence near the 0.7343-55 area.
Momentum beyond the stated immediate persistence near the 0.7343-55 area might provoke some fresh supply near 0.7377 level, above which the pair is likely to aim towards regaining the 0.7405 handle.
On the other hand, 0.7317-13 area, closely followed by the 0.7303 handle, now appears to protect the immediate weakness, which if broken might turn the pair at risk to head towards testing 80-day EMA support near the 0.7233-45 area.
FOREX market analysis by FxErvin.