4 Nov 2013
NZD/USD’s corrective move extended; flat at 0.8280
FXstreet.com (Chicago) - NZD/USD fell from the 0.83 zone and remains stalled around the 0.8280 front in the afternoon of the American trading session.
Technically speaking, the pair flows around the 38.2% Fibonacci level (0.82/0.8313) after retracing from 0.8315 session highs. Action took place mostly during the Asian session amid the release of data in Australia, China and New Zealand. The ANZ commodity price was 1.3% vs. past 1% while in the US factory orders results were better than expected.
NZD/USD Technical Levels
Offered at 0.8281, the pair oscillates between the supports aligned at 0.8270 (October 25th lows), 0.8240 (October 10th lows) ahead of 0.82 (November 1st lows) and the resistances set at 0.8313 (October 31st highs), 0.8355 (October 23rd lows) followed by 0.84 (October 15th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered above the EMA20.
Technically speaking, the pair flows around the 38.2% Fibonacci level (0.82/0.8313) after retracing from 0.8315 session highs. Action took place mostly during the Asian session amid the release of data in Australia, China and New Zealand. The ANZ commodity price was 1.3% vs. past 1% while in the US factory orders results were better than expected.
NZD/USD Technical Levels
Offered at 0.8281, the pair oscillates between the supports aligned at 0.8270 (October 25th lows), 0.8240 (October 10th lows) ahead of 0.82 (November 1st lows) and the resistances set at 0.8313 (October 31st highs), 0.8355 (October 23rd lows) followed by 0.84 (October 15th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered above the EMA20.