NZD moved slowly near hurdle versus USD
5/22/2017 11:09:18 AM
During Forex market, the NZD/USD pair moved slowly nearer to its immediate strong hurdle near mid-0.6910s.
It, though, stays to be seen if the pair is capable to break through the 0.6953 strong supply zone.
On a constant move above mid-0.6910s, leading to a succeeding break through 45-day EMA hurdle near 0.6963 area, is probable to cause a short-covering rally towards the key 0.7015 psychological mark en-route the next major hurdle near 0.7027 area.
On the other hand, reversal from current persistence level now appears to find some immediate support near the 0.6910 handle, below which the pair is probable to break below 0.6877 support level and head towards testing 0.6853 important support.
FOREX market analysis by FxErvin.