NZD/USD Struggles To Rise

The New Zealand dollar bounces back as risk appetite makes a timid return after a mixed NFP.



The pair is in a narrow consolidation range between 0.6880 and the psychological level of 0.7000. However, the short-term mood remains downbeat after the kiwi almost gave up all its gains from late August.


The RSI’s double-dip in the oversold area has attracted some buying interest. But the bulls will need to lift the major resistance before they could jump-start a reversal. Failing that, the kiwi would be testing the daily support at 0.6810.


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