NZD/USD retraced from Asian high of 0.8698

FXStreet (Moscow) - NZD/USD is correcting lower from the Asian highs of 0.8698; the cross is currently trading at 0.8679


Kiwi bulls are unstoppable

NZD/USD was one of the best performing currencies on Thursday as it staged an impressive rally of about 100 pips. The pair broke above 0.8600 level and closed at 0.8673. RBNZ Deputy Governor Spencer comments set kiwi on fire yesterday as he mentioned that the monetary policy tightening might start earlier than expected. The markets were so impressed that they continued to push NZD/USD higher in Asia on Friday. The pair stopped within 2 pips from the strong resistance of 0.8700, but heavy offers located there triggered the downside correction. Some traders may prefer to lock profits before the end of the week so the downside may deepen during the day. The first support is seen at Asian low of 0.8660 and followed by 0.8650. The bespoke resistance is 0.8700.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8649, with support below at 0.8611, 0.8549 and 0.8511, with resistance above at 0.8711, 0.8749 and 0.8811. Hourly Moving Averages are bullish, with the 200SMA at 0.8580 and the daily 20EMA at 0.8515. Hourly RSI is neutral at 60.