Floor established at 0.65803-832
The NZDUSD has consolidated in an up and down day again today. The low tested the low area over the last few days at 0.65803 to 0.65832. The low from last week also bottomed near that area at 0.65832.
The move back to the upside is trying to extend back above the 100 hour MA at 0.6600. Earlier in the session, the price did move above that level, but stalled ahead of the 200 hour MA at 0.66123 currently. It will take the price getting above and staying above the MA lines give more of a bullish look from a technical perspective.
The pair is trying to bottom, but the pair remains in an up and down trading range.
Quarterly CPI data for the 4Q will be released after the close. The expectation is for a rise of 0.4% versus at 0.7% in the 3Q. The YoY measure is expected to rise to 1.8% from 1.5% in the last quarter. In December of 2018, the QoQ rise was only 0.1%. With expectations for a 0.4% rise, it raises the YoY value.
FYI, 1st quarter CPI from 2018 is also relatively low at 0.1%. So there may be a goose higher 2 months from now.
