NZD USD moved back higher
9/19/2016 10:35:25 AM
A widespread dollar weakness helped the NZD/USD pair to recover all of its losses recorded on Friday and has now moved back above 0.7300 handle.
Currently trading at a fresh session high level near 0.7317 region, the pair kept its strong bid tone in spite of Friday's higher than anticipated US CPI print, among thin liquidity on the back of a holiday in Japanese market.
From current levels, 0.7330 area stays immediate persistence, which if cleared might revoke any near-term bearish bias and help the pair to reclaim 0.7400 handle and head towards testing recent daily closing high persistence near 0.7450 region.
On the other hand, 0.7250 area now appears to have arisen as immediate support below which the pair is likely to aim towards testing 50-day SMA support near 0.7215 region before ultimately falling to test its next major support near 0.7100-0.7080 region marking 100-day SMA.