NZD/USD trades near the weekly low despite the recovery in early signals of New Zealand inflation. 200-day SMA limits near-term upside, November month low can please sellers below the break of the key Fibonacci. NZD/USD remains on the back foot around 0.6450 during early Friday. The pair recently ignored better than the previous 1.8% RBNZ inflation expectations to 1.93% while nearing the weekly low. Read: RBNZ Survey: New Zealand inflation expectations rise, Kiwi keeps losses During the quote’s further declines, 61.8% Fibonacci retracement of October-December 2019 upside, at 0.6414, will be the key to watch. Should prices remain weak below 0.6414, which is less likely considering the oversold RSI, November 2019 bottom surrounding 0.6315 will return to the charts. Alternatively, 100-day SMA and 50% Fibonacci retracement level limits the pair’s immediate upside near 0.6475/80 whereas 200-day SMA around 0.6505 can question the buyers next. NZD/USD daily chart Trend: Bearish 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 China Vice FinMin Yu: Will ensure fiscal funding for coronavirus control FX Street 2 years NZD/USD trades near the weekly low despite the recovery in early signals of New Zealand inflation. 200-day SMA limits near-term upside, November month low can please sellers below the break of the key Fibonacci. NZD/USD remains on the back foot around 0.6450 during early Friday. The pair recently ignored better than the previous 1.8% RBNZ inflation expectations to 1.93% while nearing the weekly low. Read: RBNZ Survey: New Zealand inflation expectations rise, Kiwi keeps losses During the quote’s further declines, 61.8% Fibonacci retracement of October-December 2019 upside, at 0.6414, will be the key to watch. Should prices remain weak below 0.6414,… 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.
