NZD/USD capped on poor China Caixin Services PMI – by fx_ross NZDUSD Currencies DollarIndex China
. Average hourly earnings arrived at 0.6%, well above expectations for a 0.3% gain, and the participation rate also declined to 62.1%.
The analysts see NZD fair value at ~0.65; ''that suggests it can maintain its strength, but it may be a bumpy ride. The next major technical target is 0.6450 .''The NZD is riding the dynamic support into resistance but a correction could be on the cards. The Fibonacci scale sees the prospects of a move towards the 61.8% ratio near 0.6281.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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