TenkoFX - Analytics


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    NZD/USD upside capped ahead of 0.75 previous highs

    NZD/USD is consolidated in markets that are awaiting the EU referendum later this week with results that will be released late Asia or potentially in the early hours of the European open on the 24th. NZD/USD started the week out on the bid with longs unwinding the greenback, but the move was limited to 0.7481 highs and now presses back below the 20 sma on the 1hr at 0.7453. Data wise, we are lacking events until Yellen and the results of the referendum, but once this week is out of the way, focus will likely turn back to the RBNZ and commodity prices. NZD/USD levelsNZD/USD has the 0.74 handle to the downside as the psychological target below the 200 sma on the 1hr sticks located just above at 0.7403. 0.7445 is the next support as the 15th June, before hand, while to the upside, 0.7482 is the 8th June highs before 0.7520 and 3rd May highs.

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