NZD/USD - NZD/USD Found Resistnace at 0.7050 - 01/11/2017 (GMT)

The New Zealand dollar created a negative day against the U.S dollar as it found an obstacle on the 50-daily SMA which is moving slightly below the 0.7050 barrier. The NZD/USD pair dropped more than 0.3% during Tuesday’s session and if there is a successful attempt above the aforementioned obstacles, it would open the door for a retest of the bearish crossover within the 100 and 200 SMAs on the daily chart. Currently, the price is developing between the 50 and 100 SMAs on the weekly chart endorsing the thought for some weak momentum in the next few sessions.