NZ trays at the lowest level since July 10DUSD
Weaker New Zealand business confidence and China manufacturing PMI below the 50 low for the third month in a row, has the NZDUSD moving lower. The fall has taken the price down to a lower trend line on the hourly chart at 0.6595. Also near the level is before going back to July 10 at the 0.65929. The low has so far reached 0.6594.
The NZDUSD has been taking back the gains of them move up from the July 10 low of 0.65652 the high of 0.6790. On Friday, the pair fell below its 200 bar moving average of the four hour chart and 61.8% retracement at the 0.6650 area. The pair has been lower five last seven trading days.