NZD/USD remains below key 0.70 handle besides bullish holiday drift

Currently, NZD/USD is trading at 0.6960, up 0.07% on the day, having posted a daily high at 0.6968 and low at 0.6953.

NZD/USD has been continuing with a bullish drift as we start to draw a close for the 2016, while the dollar has been giving back a small percentage of the large gains taken up post the Trump hysteria and FOMC's renewed hawkishness. Participants are banking on a stronger dollar for the first half of the year and that should keep a lid on a continuation of possible advances in the Kiwi exposing the downside while below the psychological 0.70 handle.  

NZD/USD levels

Spot is presently trading at 0.6961, and next resistance can be seen at 0.6968 (Daily High), 0.6972 (Yesterday's High), 0.6988 (Daily Classic R3), 0.6996 (Daily 20 SMA) and 0.7039 (Weekly Classic R2). Support below can be found at 0.6960 (Daily Classic R2), 0.6959 (Weekly Classic R1), 0.6956 (Weekly High), 0.6956 (Daily Open) and 0.6953 (Daily Low).