NZD/USD: 100-day EMA is proving a tough nut to crack ahead of GDT auction

• NZD/USD witnessed a bear-to-bull trend change last week, still, kiwi bulls are struggling to get past the 100-day EMA.
• Global Dairy Trade (GDT) price index will be released later today.
• New Zealand will release its latest Employment Change report at 21:45 GMT.

The NZD/USD pair is currently trading at 0.6655, having clocked a high of 0.6669 earlier today.

The pair cleared the six-month-long falling trendline last week, confirming a bearish-to-bullish trend change. Still, the pair is struggling to clear the immediate resistance of the 100-day exponential moving average (EMA), currently at 0.6677.

That said, the key EMA hurdle could be scaled later today if the GDT price index records its first increase since May 15. Prices had dropped 0.3 percent at the last auction held on Oct. 16.

The gains, however, could be short-lived if the New Zealand employment data, due today at 21:45 GMT, disappoints expectations.

NZD/USD Technical Levels