FXStreet (Mumbai) – The NZD/USD was offered at the high of 0.6597; its fourth failure around 0.66 handle in the current month.
Drops below 50-DMA
At the time of writing, the pair traded just below its 50-DMA located at 0.6574. The Kiwi and other commodity dollars have been the major beneficiaries amid the smaller corrections seen offlate in the USD.
With the empty economic calendar and a trading holiday in the US, the pair is unlikely to see much action till the Friday’s Asian session.
NZD/USD Technical Levels
The immediate resistance is located at 0.6574 (50-DMA), above which the pair could re-test a major hurdle at 0.66 handle. On the other side, support is located at 0.6542 (100-DMA) and 0.6524 (hourly 200-MA).
(Market News Provided by FXstreet)