NZD bulls need a close above the 20-day MA hurdle. Focus on US trade policy, trade tensions with China linger. The NZD is having a tough time scaling the 20-day MA resistance is holding, despite Wednesday’s bull hammer-like candle. At press time, the currency pair is trading at the 20-day MA of 0.6798, having clocked a session high of 0.6806 earlier today. The Kiwi has persistently found bids around 0.6750 over the last few days, but a close above the 20-day MA has remained a distant dream. Hence, a daily close above the MA hurdle is necessary to create further upward pressure on the NZD exchange rate. Trade tensions linger The Trump administration is reportedly getting closer to a deal with Mexico. However, talks with China have stalled, according to White House economic adviser Larry Kudlow. Consequently, Kiwi and other commodity dollars could continue to struggle against the USD – the new safe haven. NZD/USD Technical Levels A close today above the 20-day MA would add credence to yesterday’s bullish hammer and would allow a rally to 0.6890 (Upper Bollinger band). Resistance: 0.6798 (20-day MA), 0.6859 (July 9 high), 0.6890 (upper Bollinger Band). Support: 0.6787 (session low), 0.6725 (July 13 low), 0.6688 (July 3 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stocks leaning to the bullish side, following in Wall Street’s footsteps FX Street 5 years NZD bulls need a close above the 20-day MA hurdle. Focus on US trade policy, trade tensions with China linger. The NZD is having a tough time scaling the 20-day MA resistance is holding, despite Wednesday's bull hammer-like candle. At press time, the currency pair is trading at the 20-day MA of 0.6798, having clocked a session high of 0.6806 earlier today. The Kiwi has persistently found bids around 0.6750 over the last few days, but a close above the 20-day MA has remained a distant dream. Hence, a daily close above the MA hurdle is necessary to create… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
