Kiwi very well bid, but heavy resistance at 0.7620 by Milan Cutkovic

  • NZD well bid this morning; approaching 0.76 level
  • The currency received a boost by the better than expected Trade Balance data overnight
  • However, heavy resistance noted at the 0.7620 level, which is the December and Mid-January low
  • A clear break & daily close above the level would suggest further upside and could spark some significant position covering
  • NZD short positioning is not at extreme levels, but still crowded
  • To the downside, intraday support now seen at 0.7670 and 0.7630

NZDUSD

The post Kiwi very well bid, but heavy resistance at 0.7620 appeared first on www.forextell.com.

Leave a Reply