NZD/USD bears remain in control, testing bulls commitments

NZD/USD has been consolidating the downside with some two way business between 0.6708 and 0.6761, recently breaking back above the 20 sma.

NZD/USD slid yesterday after a double top in previous session at the 0.6840 mark, testing 0.6750 only to find resistance at the 0.68 handle again while the FOMC minutes offered bears good reason to seek out commitments at 0.6720 that eventually gave way for aforementioned lows so far. Fed speak today also supported the view that June is more likely than before and the greenback remains solid on the bid across the board.

NZD/USD levels

NZD/USD remains in bearish after pushing below the 10th May lows at 0.6716 with a low of 0.6708. The 200 dma stands at 0.6644 on the downside remains a key target ahead of 0.6580 key support. To the upside, the 55 dm stands at 0.6820 as putting the bird back into the rising channel.