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22 May 2015
NZD/USD trims gains and falls toward 0.7350
FXStreet (Córdoba) - NZD/USD rose sharply during the Asian session and peaked at 0.7394, the highest level in three days but then lost strength and pulled back, trimming gains.
NZD/USD retreats but still bullish in the short term
The pair has been falling modestly since the beginning of the European session after facing resistance below 0.7400, but still remains above the hourly 20-SMA and still showing some bullish signals in the short term; the outlook could change if price consolidates below 0.7355.
The decline from the highs so far found support at 0.7360. Currently trades at 0.7365, a hundred pips below the level it closed last Friday but rising for the second day in row as it recovers after falling on Wednesday to 0.7281, the lowest level in two months.
NZD/USD retreats but still bullish in the short term
The pair has been falling modestly since the beginning of the European session after facing resistance below 0.7400, but still remains above the hourly 20-SMA and still showing some bullish signals in the short term; the outlook could change if price consolidates below 0.7355.
The decline from the highs so far found support at 0.7360. Currently trades at 0.7365, a hundred pips below the level it closed last Friday but rising for the second day in row as it recovers after falling on Wednesday to 0.7281, the lowest level in two months.