Forex: NZD/USD closes below 0.80, 100-day EMA
Forex pairs in this Article » NZD/USD
FXstreet.com (San Francisco) - After cracking trendline support around 0.8035 (June 1/Aug 6 troughs) on Wednesday, NZDUSD extended another leg lower overnight, breaking below the 0.8000 psychological figure to touch a fresh 5-week low of 0.7969 before closing the NA session down 30 pips at 0.7980. Worth mentioning, price has now had a close below the 100-day EMA (0.8004) for the first time since July 26. If the downward momentum persists in the global day ahead, key Fibonacci support at 0.7930 (38.2%, 0.7456/0.8221) may limit slides. Upside moves may encounter offers at 0.8000 (figure, 21-hourly EMA). NZDUSD trades at 0.7975 this hour in early Asia.