23 Oct 2013
NZD/USD struggling to forge 0.8380 support
FXstreet.com (Chicago) - NZD/USD has lost 1.62% so far today after the release of American data and ahead of NZ trade balance results.
NZD/USD Technical Levels
In the US, house data disappointed. Market participants wait for trade balance results due later today. Technically speaking, the pair forges grounds around the 0.8380 zone after precipitous fall. Offered at 0.8381, the pair oscillates between the supports aligned at 0.8351 (October 15th lows), 0.8270 (October 4th lows) ahead of 0.8191 (October 2nd lows) and the resistances set at 0.8436 (September 18th highs), 0.85 (October 18th highs) ahead of 0.8558 (May 5th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.
NZD/USD Technical Levels
In the US, house data disappointed. Market participants wait for trade balance results due later today. Technically speaking, the pair forges grounds around the 0.8380 zone after precipitous fall. Offered at 0.8381, the pair oscillates between the supports aligned at 0.8351 (October 15th lows), 0.8270 (October 4th lows) ahead of 0.8191 (October 2nd lows) and the resistances set at 0.8436 (September 18th highs), 0.85 (October 18th highs) ahead of 0.8558 (May 5th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.