Our short call for NZD/USD (link below) has reached TP1, we recommend holding as further downside likely.
The pair has retreated from strong trendline resistance at 0.6781 in Friday's trade as the greenback is seen garnering some strength as we head into FOMC later in the week.
10 DMA support at 0.6691 is holding for now, the pair has edged higher to retake the 0.67 handle, is currently trading at 0.6721.
Immediate support is seen at 0.6691 (10 DMA & session low) and then at 0.6680 (Daily Tenkan), breaks below could expose 0.6650 (38.2% Fib of Nov/Dec rally).
Resistance Levels:
R1: 0.6740 (Dec 7 high)
R2: 0.6758 (Dec 9 high)
R3: 0.6782 (Double day High Dec 10 & 11)
Support Levels:
S1: 0.6704 (Session low Dec 11)
S2: 0.6691 (10 DMA & session low)
S3: 0.6680 (Daily Tenkan)
The pair has retreated from strong trendline resistance at 0.6781 in Friday's trade as the greenback is seen garnering some strength as we head into FOMC later in the week.
10 DMA support at 0.6691 is holding for now, the pair has edged higher to retake the 0.67 handle, is currently trading at 0.6721.
Immediate support is seen at 0.6691 (10 DMA & session low) and then at 0.6680 (Daily Tenkan), breaks below could expose 0.6650 (38.2% Fib of Nov/Dec rally).
Resistance Levels:
R1: 0.6740 (Dec 7 high)
R2: 0.6758 (Dec 9 high)
R3: 0.6782 (Double day High Dec 10 & 11)
Support Levels:
S1: 0.6704 (Session low Dec 11)
S2: 0.6691 (10 DMA & session low)
S3: 0.6680 (Daily Tenkan)
