NZD/USD initiates recovery movement

FXstreet.com (New York) - The NZD/USD has recently bounced off the 0.7750 handle Tuesday, having inched into positive territory and establishing a minor advance.

NZD/USD beging climb into positive territory

Presently, the NZD/USD is now positive at 0.7760 in these moments, notching a tepid climb of +0.05% above it’s opening. The Mataf.net analyst team points to the next levels of resistive correction at 0.7817, onto 0.7865, and finally 0.7924. Conversely, the pair will face support at 0.7710, ahead 0.7651, and eventually 0.7603.

NZD/USD peak in the past?

According to Mike Jones, an analyst at BNZ, “The fact that US policy easing is set to be wound up a little earlier than expected is still a clear positive for US bond yields and the USD. For the NZD/USD, the brightening US outlook means the peak appears to be behind us.”

AUD/USD capped below 0.9300

The Aussie dollar is near session lows last trading at 0.9248, still slightly in the positive for the week, retracing from recent NY session and weekly highs at 0.9300 figure, with the economic agenda in blank for the current session ahead.
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Flash: NZD/USD barrier continues to be vulnerable– Westpac

According to Global FX Strategist Sean Callow at Westpac, “The Fed’s tapering signal is clearly depressive for NZD/USD and the 0.7700 barrier is at risk of giving way – there remains plenty of scope for the market to swing to a large net short position however.”
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