NZD/USD jumped more than 1% above 0.6200 and threatens the 200-day SMA at 0.6222
On Monday, the NZD/USD gained significant ground after three consecutive days of losses jumping above the 0.6200 threshold. However, bulls need the acceptance of the 200-day Simple Moving Average at 0.6222 to continue advancing. The United States released low-tier economic data. The US Chicago PMI for July came in slightly below expectations at 42.8 vs 43, and the Dallas Manufacturing index declined in the same month but at a somewhat lower rate than anticipated, at -20 vs -26.3.
