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Jun 3, 2013
NZD/USD falls into negative territory at 0.7964/65
FXstreet.com (Barcelona) - The NZD/USD recently fell off the 0.7980 handle (session high), leading to a paring of gains and a fall into negative territory Monday during European trading.
In these moments, the pair was seen incurring a modest loss of -0.09% below it’s opening, while settling at 0.7964/65 in these moments. Should the losses mount, Mataf.net analysts identify the next short-term supports at 0.7905, then 0.7837, and finally 0.7739. Meanwhile, resistance lies at 0.8071, onto 0.8169, and 0.8237.
According to the Technical Analyst Team at ICN.com, “The NZD/USD fell steadying below the psychological barrier 0.8000 after failing to maintain a position above 0.8065. That makes us expect to see more bearishness because the pair has confirmed stability below the 50% correction, which gives room to testing 0.7920, or 61.8% correction.”
In these moments, the pair was seen incurring a modest loss of -0.09% below it’s opening, while settling at 0.7964/65 in these moments. Should the losses mount, Mataf.net analysts identify the next short-term supports at 0.7905, then 0.7837, and finally 0.7739. Meanwhile, resistance lies at 0.8071, onto 0.8169, and 0.8237.
According to the Technical Analyst Team at ICN.com, “The NZD/USD fell steadying below the psychological barrier 0.8000 after failing to maintain a position above 0.8065. That makes us expect to see more bearishness because the pair has confirmed stability below the 50% correction, which gives room to testing 0.7920, or 61.8% correction.”