The NZD’s recovery move stalled when the major touched 0.6950 which was reinforced by the EMA100. Sellers placed numerous offers there and buyers had to retreat. The buying pressure partly eased and the spot declined to the 0.6900 handle where the EMA50 provided the New Zealand currency a decent support. The resistance stands at 0.6950, the support is at 0.6900.
If sellers regain the 0.6900 handle the pair may visit the 0.6850 area in the coming days.