Axel Rudolph, Senior Analyst at Commerzbank, noted the Kiwi Dollar could test the 0.70 handle on a breakout of 0.6727. Key Quotes “NZD/USD recovered from its current September low at .6500, made close to the July 2015 low at .6497, as expected and now flirts with the 55 day moving average at .6675″. “Once the next higher late August high at .6727 has been bettered on a daily chart closing basis, a bottoming formation will be confirmed with the 200 day moving average and the June high at .7004/61 being in focus”. “While it and the .6497 July 2015 low underpin we will retain our overall bullish view (which still needs to be confirmed, however). Failure at 0.6500/.6497 would push the mid-November low at .6429 to the fore, a fall below which would eye the September 2015 and January 2016 lows at .6347/.6236″. 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 The Fed moves the US Dollar – Live Coverage Yohay Elam 4 years Axel Rudolph, Senior Analyst at Commerzbank, noted the Kiwi Dollar could test the 0.70 handle on a breakout of 0.6727. Key Quotes "NZD/USD recovered from its current September low at .6500, made close to the July 2015 low at .6497, as expected and now flirts with the 55 day moving average at .6675". "Once the next higher late August high at .6727 has been bettered on a daily chart closing basis, a bottoming formation will be confirmed with the 200 day moving average and the June high at .7004/61 being in focus". "While it and the .6497 July 2015 low… 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.
