NZD/USD bears making fresh weekly lows

With spot at 0.6999, NZD/USD is currently trading with demand in from the bulls after the bearish opening gap from 0.7021 to 0.6979 session lows so far.

The question everyone is asking? - Rabobank

NZD/USD was sold off at the open with broad based dollar strength as markets continue to buy into the Fed's mantra while the President Elect has also been taken as a positive in respect of deficit spending, tax reforms and inflationary pressures in 2017 for the US economy. However, the Kiwi has not been the worst performer by any means and has in fact attract investment on the back of positive economic data.

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NZD/USD levels

NZD/USD has now made a fresh four-month low at 0.6979 having already penetrated below the 200 dma earlier in the month and is now breaking the 10-month sma at 0.7024. We have S1 at 0.6989, with S2 at 0.6964 and S3, 0.6928. Then, for the upside, we have R1 is located at 0.7050, with R2 at 0.7086 and R3 at 0.7111.