OctaFX | OctaFX Forex Broker
Open trading account
Back

NZD/USD losses mount to 0.8019/23

FXstreet.com (Barcelona) - The NZD/USD has experienced a wild start to the week, losing most of its recent gains and surrendering the 0.8100 level amidst a growing weakness.

According to the ICN.com Technical Analyst Team, “The NZD/USD plunged after confirming its position below 0.8065 earlier. However, it hasn't yet been able to touch 61.8% correction, therefore a potential extension of the downtrend is likely this week. Ultimately, we note that stability below 61.8% correction at 0.7920 will trigger a powerful bearish wave.”

Despite staunch overnight gains that took the pair to the 0.8106 level (overnight high), the NZD/USD is presently operating in negative territory down -0.82% Tuesday at 0.8019/23. Technically speaking, the Mataf.net analyst team points to support levels at 0.7982, ahead of 0.7984, and ultimately 0.7806. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 0.8158, then 0.8226, onto 0.8334.

USD/CHF intraday charts turning negative

The pair lost beyond 200 pips throughout the handover to the NY session in Europe yesterday. Not much more than the release of disappointing ISM was enough to encourage a dollar sell off across the board yesterday, proving that these markets a very sensitive to the data releases following the rhetoric of late from Central bank members and the Fed.
Read more Previous

EUR/USD picking up pace after Spanish data

The single currency is attempting a rebound to the 1.3080 area after the Spanish employment data surprised investors on Tuesday...
Read more Next
Start livechat