NZD/USD stays bid around weekly top amid upbeat fundamentals. After upbeat NZ Q4 jobs report, China Caixin Services PMI grew more than expected in January. Bulls attack monthly resistance line, six-week-old support line becomes key for sellers’ entry. NZD/USD refreshes the weekly top to 0.7218, up 0.80% intraday, during early Wednesday. In doing so, the kiwi pair stretches its run-up following the strong employment data at home. Also recently helping the bulls is China’s upbeat activity number for January. Read: China’s services sector grows at slowest pace in nine months While a downward sloping trend line from January 06 probes the NZD/USD buyers around 0.7220, receding strength of bearish MACD signals and sustained trading beyond 50-day SMA keeps the bulls hopeful. Though, January 26 top near 0.7250 is likely an extra filter to the north-run targeting the previous month’s top of 0.7316. Meanwhile, a downside break of 50-day SMA, at 0.7137 now, needs to close below an ascending support line from December 21, currently around 0.7120, to convince NZD/USD sellers. Should the quote drops below 0.7120 daily, December’s bottom close to the 0.7000 psychological magnet will gain the market’s attention. Overall, NZD/USD is up for the rise targeting to refresh multi-month top marked in January. NZD/USD daily chart Trend: Bullish 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 Gold Price Analysis: XAU/USD gains despite impending death cross FX Street 1 year NZD/USD stays bid around weekly top amid upbeat fundamentals. After upbeat NZ Q4 jobs report, China Caixin Services PMI grew more than expected in January. Bulls attack monthly resistance line, six-week-old support line becomes key for sellers’ entry. NZD/USD refreshes the weekly top to 0.7218, up 0.80% intraday, during early Wednesday. In doing so, the kiwi pair stretches its run-up following the strong employment data at home. Also recently helping the bulls is China’s upbeat activity number for January. Read: China's services sector grows at slowest pace in nine months While a downward sloping trend line from January 06 probes the… 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.
