• NZD/USD +0.5% Mon, NZ election too close to call as vote count continues

• Government reduced majority likely, minor parties to gain more leverage

• NZD pushing upper hourly Bollinger band, further topside extension difficult

• Break below Oct 14 0.5566 low opens door for move toward 0.5485 support

• U.S. Oct non-farm payrolls +165k (poll +65k), DXY closed +0.8% Fri

• Fed officials Williams, Musalem, and Daly all flag incoming FFR hikes

• Futures pricing now implies 78.2% probability of Fed rate hike on Dec 9

• Range NZ 0.55605-80, support 0.5485, resistance 0.5710 0.5995 0.6012
DXY Daily 55/100/200-DMA


NZD Daily 21/55/100-DMA


NZD Hourly Bollinger Study

(James Connell is a Reuters market analyst. The views expressed are his own.)