- The kiwi remains under pressure against the US dollar still above the key support area.
- NZD / USD Finds Support Above Recent Lows; The bearish bias prevails.
The NZD / USD it is falling on Thursday amid a stronger US dollar and risk aversion. The fall, like last week, found support above the 0.6920 zone (June lows). A firm break below that zone should lead to a test of 0.6900 and further losses without much support at 0.6790.
The pair continues to move sideways between 0.7100 and 0.6900 with a bearish bias. A recovery above the 20-day simple moving average at 0.7120 would ease the negative tone.
Technical indicators are also skewed to the downside. Still, the price must break the critical area of ​​0.6920 (or 0.6900 for stronger confirmation), to clear the way for an extension of the decline. Furthermore, the 55-week moving average is around the aforementioned area. Therefore, a weekly close below should also point to more losses.
Daily chart
Technical levels
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