FXStreet (Guatemala) – NZD/USD is currently trading at 0.6398 with a high of 0.6407 and a low of 0.6332.
NZD/USD has been better bid since yesterday’s mixed risk sentiment and a recovery coming through in such appetite from investors as we head into month end. The bird has rallied from below the 200 SMA on the hourly at 0.6299 and scored 0.6393 where it met supply and then rebounded from the 200 SMA and drifts higher supported at the 20 SMA at 0.6374 while testing the vicinity 0.64 handle.
Risk is on at the end of the month, with month-end flows and an extension of profit taking while we await the Nonfarm Payrolls on Friday with the October FOMC in mind.
The ADP report was the highest since June, but was tempered by lower revisions. 200k was recorded vs 195k expected and 186k prev and leaves expectations for the Nonfarm Payrolls somewhere in the region of above 200k. Anything in that region is a good case for the Fed to hike this year among other targets in inflation and wages.
NZD/USD levels
NZD/USD bulls are in control testing the 20 DMA at 0.6398 having gone through the 200, 50 and 20 SMA’s on the hourly chart. Price is supported by the 20 SMA on the 4hr charts and the 20 DMA on the daily sticks a little further out while MACD on the 4hr chart continues to turn more positive.
(Market News Provided by FXstreet)