NZDUSD Consolidates at Recent Highs

NZDUSD trading 0.05% lower at 0.6419 as it consolidates close to monthly highs registering an impressive rebound from 4-year lows at 0.6268. New Zealand Manufacturing Sales dipped from the previous 2% to -2.7% in 2Q, 2019.

NZDUSD bullish momentum for the short term is intact as it trades above all the major hourly moving averages. On the upside, immediate resistance stands 0.6436 today’s high, and then at 0,6529 the 50-day moving average. On the downside immediate support stands at 0.6412 daily low and then at 0.6368 the 100 hour moving average; the pair facing two important support levels from 2015; first support stands at 0.6259 the low from August 2015 and then at 0.6235 the lows from September 2015; NZDUSD medium-term outlook is still bearish despite the recent rebound and a visit down to 2015 lows looks possible.Don’t miss a beat! Follow us on Telegram and Twitter.

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