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[b]Technical Analysis for NZD/USD: April 29, 2016[/b]
The kiwi is hovering 20 pips below 0.70 handle after recording losses from an intraday high of 0.6990. With rate decisions coming from a number of currencies this week, NZD is showing the second strongest performance after the Yen.
The ANZ Business Confidence released today showed that companies are expecting positive economic activity as it jumped from 3.2 in March to 6.2 in April. Thirty-five percent of the surveyed firms predict an interest rate cut in the next policy meeting.
On the US side, personal spending will be released today while a deluge of data including manufacturing PMI and nonfarm payroll will come next week.
The first support is at 0.6918 and 0.6883 subsequently. The first resistance is at 0.7037 and 0.7072 subsequently. The MACD indicator is in neutral location. The price is rising.
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