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Sep 3, 2014
NZD/USD testing lows again
FXStreet (Guatemala) - NZD/USD is trading at 0.8297, having posted a daily high at 0.8324.
NZD/USD has been testing the downside again, losing the 0.83 handle in an environment where the US dollar has been king of the G10’s and the Kiwi has been coming of the most. It got a double whammy on the dairy prices dropping to a near 2yr low. Jim Langlands at FX Charts explained that a sustained break of 0.8300 and the 0.8290 low would hint at a run towards 0.8275(50% Fib of 0.7670-0.8839) and then to the base of the wedge at around 0.8260 and the 0.8242 (February 20 low).
NZD/USD levels
With spot trading at 0.8297, we can see next resistance ahead at 0.8310 and 0.8330 (Hourly 20 EMA). Next Support below can be found at 0.8292, 0.8275, 0.8260 and 0.8242.
NZD/USD has been testing the downside again, losing the 0.83 handle in an environment where the US dollar has been king of the G10’s and the Kiwi has been coming of the most. It got a double whammy on the dairy prices dropping to a near 2yr low. Jim Langlands at FX Charts explained that a sustained break of 0.8300 and the 0.8290 low would hint at a run towards 0.8275(50% Fib of 0.7670-0.8839) and then to the base of the wedge at around 0.8260 and the 0.8242 (February 20 low).
NZD/USD levels
With spot trading at 0.8297, we can see next resistance ahead at 0.8310 and 0.8330 (Hourly 20 EMA). Next Support below can be found at 0.8292, 0.8275, 0.8260 and 0.8242.