New Zealand dollar was the least volatile currency during the U.S. election day. Part of it was likely due to the fact that the RBNZ held a meeting on the next day. Widely expected rate cut didn't exactly matter as the currency joined others in a sell-off.
The pair has so far lost about 400 pips and closed lower in eight consecutive days. It closed last week below the 2015 - 2016 trendline and 200 DMA, which may now act as a resistance. Area between 0.6880 and 0.70 (00's, 38.2% retracement, 50 WMA, 100 WMA) should see some demand.
The pair has so far lost about 400 pips and closed lower in eight consecutive days. It closed last week below the 2015 - 2016 trendline and 200 DMA, which may now act as a resistance. Area between 0.6880 and 0.70 (00's, 38.2% retracement, 50 WMA, 100 WMA) should see some demand.
