- NZD/USD is trading in the middle of its daily range ahead of the New Zealand employment data which is set to be released at 22:45 GMT. Lots of volatility can be expected as the data is only released once per quarter.
- On the daily chart NZD/USD has found support at the 21-period simple moving average suggesting some building bullish momentum. However, bulls would need to breakout above 0.6852 July 26 high and 0.6859 July 9 high to start to create a higher high.
- To the downside, support is likely located near the 0.6791 July 30 low and 0.6726 July 27 low.
- New Zealand jobs report preview: Favorable conditions for NZD/USD to move up.
NZD/USD 15-minute chart
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NZD/USD daily chart
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Spot rate: 0.6818
Relative change: -0.08%
High: 0.6833
Low: 0.6801
Trend: Neutral /Bullish above 0.6852-0.6859 area
Resistance 1: 0.6826 June 21 low
Resistance 2: 0.6852-0.6859 area, July 26 high and July 9 high
Resistance 3: 0.6885 June 25 low
Resistance 4: 0.6900-0.6923 area figure and supply/demand level
Support 1: 0.6791 July 30 low
Support 2: 0.6762 July 27 low
Support 3: 0.6713 July 19 low
Support 4: 0.6689 current 2018 low
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