The NZD/USD is back above 0.66 (50% Fib R of 0.6501/0.6699) but remains on the defensive. Kiwi took a beating in early Asia as New Zealand business confidence fell to a 9-year low. Currently, the NZD/USD pair is trading at 0.6606, having clocked a two-week low of 0.6593 earlier today. The NZD was offered after the New Zealand Institute of Economic Research’s (NZIER) quarterly survey of business opinion (QSBO) showed a net 30 percent of firms surveyed expected general business conditions to deteriorate compared with 20 percent in the previous quarter. Notably, the third quarter reading is the lowest since March 2009 and justifies the Reserve Bank of New Zealand’s (RBNZ) dovish tilt. As a result, the path of least resistance remains to the downside. Even so, a positive turn above 0.6617 could be seen if the global equity markets continue to cheer the NAFTA deal. NZD/USD Technical Levels Resistance: 0.6620 (5-day EMA + 10-day EMA), 0.6662 (50-day EMA), 0.6699 (Sept. 21 high) Support: 0.6593 (session low), 0.6577 (61.8% Fib R of 0.6501/0.6699), 0.6544 (Aug. 15 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 Dollar Index Technical Analysis: This lagging indicator has turned bullish for the first time since 2001 FX Street 4 years The NZD/USD is back above 0.66 (50% Fib R of 0.6501/0.6699) but remains on the defensive. Kiwi took a beating in early Asia as New Zealand business confidence fell to a 9-year low. Currently, the NZD/USD pair is trading at 0.6606, having clocked a two-week low of 0.6593 earlier today. The NZD was offered after the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed a net 30 percent of firms surveyed expected general business conditions to deteriorate compared with 20 percent in the previous quarter. Notably, the third quarter reading is the lowest since… 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.
