NZD/USD hangs around 0.8752

FXStreet (Moscow) – NZD/USD is trading at 0.8752, unchanged on the day, having posted a daily high at 0.8758 and low at 0.8741.

Injured, but not fatally

Positive Non-Farm Payrolls got NZD/USD down on Thursday. The currency pair dipped to the intraday low of 0.8717, but managed to reverse some losses and finished the day at 0.8744. On daily basis Kiwi is consolidating with light bearish bias after a strong upside movement, though the overall short-term trend remains bullish as long as the part keeps above 0.8700. On реу intraday basis the currency pair is likely to be rangebound due to low liquidity environment and lack of new incentives. The upper side of the range is seen at 0.8760/65, while the downside will the limited by yesterday’s low of 0.8717.

What price levels and patterns have to be considered?

Spot is presently trading at 0.8747, and next resistance can be seen at 0.8750 (Daily Classic PP), 0.8753 (Hourly 20 EMA), 0.8753 (Daily Open), 0.8754 (Weekly Low) and 0.8755 (Daily High).

Next support to the downside can be found at 0.8746 (Hourly 200 SMA), 0.8744 (Weekly Classic PP), 0.8741 (Daily Low), 0.8721 (Daily Classic S1) and 0.8717 (Yesterday’s Low).

Regarding candlestick formations, we can see Hammer formation on the 1-hour .
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