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NZD/USD stalls at 8260, key 50% fib

FXStreet (Bali) - NZD/USD keeps being pressured lower due to the broad-based demand for USD Dollars seen on Monday, with the rate exchanging hands as low as 0.8263 before a mild recovery to 0.8272.

Peter Fell, Analyst at FXBeat, notes: "8260 is 50% fib on the 7684 / 8836 rise, the kiwi fell to 8262 in overseas. The order board had buyers between 8250/60, I assume the exporter community. So far, the bounce has been limited to 8285, sell orders are touted between 8300/10, a break below 8250 should target a test of 61.8% support at 8125."

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