NZD/USD: drifting in consolidating in early Asia

By FXStreet FXStreet (Guatemala) – NZD/USD is currently trading at 0.6489 with a high of 0.6495 and a low of 0.6482.

NZD/USD has started to creep lower, ducking below the 20 SMA on the hourly chart in consolidation of the strong northerly drift. Wall Street proved to perform on the bullish side following the Europeans risk sentiment and leaves the commodity bloc in a positive light with a recovery in the metals and softs as well.

NZD/USD due some profit taking?

However, we now move towards the RBA rate decision and accompanying statement. A dovish tone may set both the Kiwi and Aussie back a step or two while technicals are pointing to a consolidation with MACD turning more negative on the hourly sticks. Support come as 0.6415, 0.6399 and 0.6338.
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Source:: FX Street