NZD/USD remained mostly choppy around 0.6650 ahead of the recent drop to 0.6631 during Tuesday’s Asian session. In doing so, the kiwi pair traders might have been finding it difficult to justify the mixed trade numbers and risk catalysts published off-late.Meanwhile, a downside break below the previous resistance line, at 0.6650, will revisit the 100-hour EMA level of 0.6630.
It should, however, be noted that the pair’s downside below 0.6630 will have a tough time fighting the 50% and 61.8% Fibonacci retracement of the last week’s rise, respectively near 0.6610 and 0.6595.