April 23, 2015: CHF is the strongest. NZD is the weakest.
The NZD is the weakest currency today, falling over 1% against all the major currencies. RBNZ Gov. McDermott said that "evidence weakening demand... would prompt us to consider lowering rates"
The tumble lower in the NZDUSD took the pair below the 200 hour MA (green line in the chart above) and the 100 day MA at the 0.75705 level (see chart above). The 50% retracement of the move up from the April 13 low, is at 0.75804 and for the last 7 hours of trading, the price has been able to stay below that level. Traders seem to be leaning against that level as topside resistance. On the downside, the 61.8% retracement at 0.75427 has stalled the decline. These are the close support/resistance levels to eye in trading today.
The strongest currency is the CHF. This comes a day after the SNB decreased the list of exemptions from their negative rate policy. The USDCHF move today has corrected around 40% of the move up in yesterday's trading. The 200 day MA comes in at 0.9638. The 38.2% of the move higher comes in at 0.9635. This area is trying to find support buyers now. A break below today and that could spell more downside trouble for the pair.
