OctaFX | OctaFX Forex Broker
Open trading account
Back

NZD/USD sidelined around 0.8080/85

FXstreet.com (Barcelona) - The kiwi dollar seems to have stabilized around the area of 0.8080/85 on Monday, as markets remained surrendered to the global inactivity.

“The long-awaited unwind of extremely long speculative positioning appears to be underway. The breakdown heralds a further decline to 0.7800 during the weeks ahead”, suggested Sean Callow, Strategist at Westpac.

As of writing, the pair is down 0.21% at 0.8084 and a breach of 0.8066 (50% of 0.7456-0.8676) would open the door to 0.8032 (high Sep.6) and then 0.8006 (low May 23). On the other hand, resistance levels line up at 0.8128 (high May 24) ahead of 0.8156 (MA10d) and finally 0.8171 (high May 23).

AUD/USD consolidates at mid-range

As most crosses in the FX market, the AUD/USD has spent the day oscillating within a narrow range given the lack of volume in the wake of UK and US holidays.
Read more Previous

Flash: EUR/USD has a strong resistance at 1.2975/1.3025 - TD Securities

EUR/USD's medium-term technical picture retains a weak bias, according to the TD Securities team, which adds that on the daily chart, two features stand out.
Read more Next
Start livechat