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Forex: NZD/USD trading near session highs

FXstreet.com (Barcelona) - The NZD/USD shot up to establish session highs during American trading Monday, following what has been a muted session to begin with. Having peaked at 0.8386 (intraday maximum), the cross has managed to ease slightly to trade at 0.8379/81, within range of its first resistance. At this juncture, the pair is operating at +0.17% above its opening.

Briefing the technicals, the NZD/USD is slated to face calculated resistance at 0.8385, ahead of 0.8400, and finally 0.8415. Conversely, any downside attempt or subsequent movement lower will encounter means of support at 0.8310, then 0.8275 and finally 0.8225, notes the ICN.com technical analyst team.

Overnight, the session will be of importance to the pair as investors mull NZ economic data (ANZ Commodity Price Index), coupled with the RBA interest rate decision in its antipodean neighbor.

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