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NZD/USD bounces off lows to 0.8149/52

FXstreet.com (Barcelona) - The NZD/USD managed to edge lower during European trading, however recent price action has led to a rebound off the 0.8135 (session low) level, back up to the 0.8149/52 handle at the time of writing.

In these moments the pair has incurred a loss of -0.23% Wednesday. Technically speaking, Mataf.net analysts point to supportive means for the NZD/USD at 0.8115, onto 0.8069, and ultimately 0.8021. Conversely, a break above the 0.8209 handle will initiate resistance at 0.8257 and 0.8303.

The New Zealander economic calendar is relatively light this week, however tomorrow night at 22:45 GMT, the economy will reveal several trade balance and import/export statistics for the month of April.

According to the ICN.com Technical Analyst Team, “The NZD/USD touched 0.8215 and after touching linear regression indicator 34, it rebounded down. In addition, the failure to extend the bullish trend makes us maintain our negative expectations, especially after the bullish channel's support was broken and turned into a resistance around 0.8280.”

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