25 Jun 2013
NZD/USD upside capped by 0.7800
Fxstreet.com (Edinburgh) - After hitting fresh 2013 lows in the proximities of 0.7680 on Monday, the kiwi dollar managed to pick up pace and lift NZD/USD to the boundaries of 0.7800, although failing to follow through.
NZD/USD keeps the bearish picture
According to I.Spivak, Currency Strategist at DailyFX, “Prices are testing support in the 0.7723-57 area marked ny a trend line set from August 2010 and the 50% Fibonacci expansion. A break below that initially targets the 61.8% level at 0.7678. Near-term resistance is at 0.7821, the 38.2% Fib, The appearance of a Doji candlestick points to indecision and hints bearish momentum may be ebbing”.
NZD/USD critical levels
As of writing, the pair is losing 0.11% at 0.7743 facing the immediate support at 0.7683 (low Jun.24) ahead of 0.7670 (low Jun.12 2012) and finally 0.7620 (low Jun.8 2012). On the upside, a break above 0.7791 (high Jun.24) would open the door to 0.7807 (high Jun.21) and finally 0.7894 (high Jun.20).
NZD/USD keeps the bearish picture
According to I.Spivak, Currency Strategist at DailyFX, “Prices are testing support in the 0.7723-57 area marked ny a trend line set from August 2010 and the 50% Fibonacci expansion. A break below that initially targets the 61.8% level at 0.7678. Near-term resistance is at 0.7821, the 38.2% Fib, The appearance of a Doji candlestick points to indecision and hints bearish momentum may be ebbing”.
NZD/USD critical levels
As of writing, the pair is losing 0.11% at 0.7743 facing the immediate support at 0.7683 (low Jun.24) ahead of 0.7670 (low Jun.12 2012) and finally 0.7620 (low Jun.8 2012). On the upside, a break above 0.7791 (high Jun.24) would open the door to 0.7807 (high Jun.21) and finally 0.7894 (high Jun.20).