NZD/USD remains in rising channel despite sell-off
By FXStreet With European and US equities falling sharply and US treasury yields sliding, NZD/USD dropped from 0.6848 to 0.6761 the low.
However, as analysts at Westpac noted, the Kiwi was the most resilient of the antipodeans to the global risk aversion in recent trade, while the commodity bloc currencies took a beating with oil dropping heavily overnight to $36.67 bbls before a recovery back to $37.66 bbls.
NZD/USD levels
Technically, NZD/USD remains in a rising channel although trading below the 0.68 handle now and looking in at the 200 sma on the 4-hourly chart at 0.6739. S1 is located at 0.6741, S2 at 0.6724 and S3 at 0.6707. These levels are guarding 27th March low of 0.6662. The wider picture remains bullish within the channel from 0.6345 targeting 0.7100.
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Source:: FX Street
