Forex Market Analysis News - NZD/USD trims to the lead sound gains to another than 2-week tops


An uptick in the US is mad roughly yields/USD capped gains.
US consumer confidence data/Fedspeaks eyed for well-ventilated impetus.



The NZD/USD pair trimmed some of its gains and retreated in credit to 20-pips from anew two-week tops touched earlier today.

The pair built in a description to overnight happening-have an effect on and gained mighty bullish traction during the Asian session in the report to Tuesday, in what could be termed as an immediate-covering rally along surrounded by yesterday's decisive crack through the 0.6900 handle.

Further gains, however, remained capped surrounded by a follow-through uptick in the US Treasury bond yields, which helped the US Dollar to edge going on slightly and was eventually seen keeping a lid as regards demand for progressive-yielding currencies - furthermore the Kiwi.

With December Fed rate hike involve on price in the push, the Fed Chair Designate Jerome Powell's official assertion hearing is immediate to have any major impact upon the greenback, even if the official pardon of US CB consumer confidence index might consent some hasty-term trading impetus.

Also in focus would be scheduled speeches by New York Fed President William Dudley, Philadelphia Fed President Patrick Harker and the US Treasury Secretary Steven Mnuchin.

Technical levels to watch

The 0.6900 handle now becomes a hasty retain to defend, which if damage could accelerate the slide abet towards 0.6875-70 horizontal hold en-route mid-0.6800s. On the upside, bulls would be eyeing for a follow-through bullish go into the future difficult than 0.6945 level, above which the pair is likely to hope towards reclaiming the key 0.70 psychological mark en-route 50-day SMA barrier stuffy the 0.7015-20 region.