Short NZD/USD break below 0.7080, target 0.7016
NZD/USD has opened lower after series of large earthquakes that struck central New Zealand overnight and the following Tsunami warnings.
The pair is holding above major support at 0.7080 levels, break below to see further downside.
Technical studies are bearish, RSI weakness at 39 levels, MACD shows bearish crossover.
Major support levels - 0.7080 (trendline & 50% Fib), 0.7034 (Oct 13 low), 0.7016 (200-DMA), 0.6985 (61.8% Fib)
Major resistance levels - 0.71, 0.7175 (38.2% Fib), 0.72, 0.7211 (20-DMA)
Retail sales data due out from both the US and New Zealand due tomorrow in focus for further momentum.
At 0925 GMT FxWirePro's Hourly Currency Strength Index stood as follows: USD: + 97.5137(Slightly Bullish), NZD: -119.779 (Highly Bearish)
Good to go short on clear break below 0.7080, SL: 0.7130, TP: 0.7035/ 0.7016/ 0.6985
The pair is holding above major support at 0.7080 levels, break below to see further downside.
Technical studies are bearish, RSI weakness at 39 levels, MACD shows bearish crossover.
Major support levels - 0.7080 (trendline & 50% Fib), 0.7034 (Oct 13 low), 0.7016 (200-DMA), 0.6985 (61.8% Fib)
Major resistance levels - 0.71, 0.7175 (38.2% Fib), 0.72, 0.7211 (20-DMA)
Retail sales data due out from both the US and New Zealand due tomorrow in focus for further momentum.
At 0925 GMT FxWirePro's Hourly Currency Strength Index stood as follows: USD: + 97.5137(Slightly Bullish), NZD: -119.779 (Highly Bearish)
Good to go short on clear break below 0.7080, SL: 0.7130, TP: 0.7035/ 0.7016/ 0.6985
NZD/USD downside halts at 61.8 % Fib at 0.6985. Break below to see further drag.