NZD/USD descending remains in tact

FXstreet.com (London) - NZD/USD has traded in a range of 339 pips between a high of 0.8051 and 0.7712 since the release of the FOMC statements and a raft of US data. Antipodean currencies are a touch higher, with the Kiwi finding territory again above the 0.7800 handle overnight, but trading back into the European opening hours at lower levels, currently between 0.7780/60. There is no data release for the pair today.

NZD/USD bearish bias

NZD/USD has a bearish bias on the charts, with MA’s in negative territory, both shorter term and longer term. The pair is trading below the pivot in Europe with resistance coming in at 0.7800 targeting 0.7640 and 0.7455 the figure while activity continues below 0.8200. The downward momentum should remain in tact so long as the pair does not close above 0.7885 and the topside of the descending channel.