NZD/USD: dollar bulls consolidated and bird still in positive territory

Currently, NZD/USD is trading at 0.7199, down -0.44% on the day, having posted a daily high at 0.7267 and low at 0.7182.

NZD/USD is giving back some gains, but the antipodeans remain resilient and the bird still holds just below the 0.72 handle for the time being in a minor correction of the 12th Oct upside move. The dollar is taking back some ground here, benefiting from the ECB instigated sell-off in the euro while the Trump effect seems to be wearing off now and polls favour a Clinton victory. We now await that outcome with attention back to the Fed again and oil. Oil is off a touch today, trading below the $51 bbl handle again WTI having made recent highs of $52.21bbl earlier this week.

NZD/USD levels

NZD/USD rallied hard away from the 200 dma at 0.7032 today, but found resistance with supply coming in at the 4hr 200 sma at 0.7245 after penetrating it momentarily yesterday in a risk-on session at 0.7265 highs. Meanwhile, spot is presently trading at 0.7200, and next resistance can be seen at 0.7219 (Hourly 20 EMA), 0.7224 (Daily Classic PP), 0.7232 (Daily Open), 0.7251 (Yesterday's High) and 0.7251 (Weekly Classic R2). Next support to the downside can be found at 0.7198 (Daily Classic S1), 0.7190 (Yesterday's Low), 0.7187 (Daily 20 SMA), 0.7182 (Daily Low) and 0.7181 (Daily 100 SMA).