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Kiwi touched below 0.65 on Friday after U.S. Bureau of Labor Statistics published surprisingly strong September Non-farm Payroll Report. There was no follow through today and the pair recovered some of its losses as the dollar was sold across the board.
The area between 50 DMA (currently ~0.6530) and 0.65 level is providing support at the moment. If it gives way, we could see another cent or so decline over the next few days. If it holds, we may witness a retest of 0.67 - 0.68 and perhaps even an attempt on 0.69 - 0.70 in the weeks ahead.
The area between 50 DMA (currently ~0.6530) and 0.65 level is providing support at the moment. If it gives way, we could see another cent or so decline over the next few days. If it holds, we may witness a retest of 0.67 - 0.68 and perhaps even an attempt on 0.69 - 0.70 in the weeks ahead.
