NZD moving somewhat toward lows versus USD
4/20/2017 1:32:37 PM
The NZD is seen retreating a part of intraday gains versus USD, sending NZD/USD somewhat lower near 0.7028 area.
A point of upside merging in the USD against its main competitors, held up the up move in the Kiwi, with the bulls having ran into the key persistence of 0.7048 barrier.
To the upside, the next persistence is placed at 0.7055, above which it could expand gains to 0.7083 and from there to 0.7120. To the downside immediate support might be placed at 0.6990/95, and from there to 0.6950, below 0.6885 would be tested.
FOREX market analysis by FxErvin.