NZD/USD sits a little higher on the session now, at 0.6212 currently
Dollar gains are easing up on the session as we see the likes of the aussie and kiwi pare their earlier losses against the greenback. NZD/USD is now up to a session high of 0.6212 and is retesting a move above the 100-day MA (red line) @ 0.6205.
That was the level that helped to limit overnight gains, with US stocks seeing a late setback as well. Hence, this is the key level to watch on the chart ahead of the close today.
The pair managed to break out of the resistance region around 0.6156-76 in trading yesterday amid the risk rally but is quickly running into further key resistance for now.
Beyond the 100-day MA, there is also further resistance from the 61.8 retracement level @ 0.6265 before the 200-day MA (blue line) comes into play @ 0.6318.
The risk mood is keeping more buoyed so far on the session, with European stocks still holding higher and US futures also seeing about 0.8% gains at the moment.
All eyes will be on how Wall Street takes to this with the S&P 500 having faltered late on yesterday to close below 3,000 and its 200-day moving average. That arguably remains the main chart to keep watch in the sessions ahead.