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Forex: NZD/USD trading positively at 0.8427/28

FXstreet.com (Barcelona) - The NZD/USD has fallen off its intraday maximums of 0.8447 during US trading Tuesday. However, this is not to dampen the kiwis performance, as the pair is operating at +0.67% above it’s opening en route to 0.8427/28.

Following a break above the 0.8412 resistance, Mataf.net analysts point to the next corrective measure 0.8435. Conversely, a movement lower and a paring of gains will result in the NZD/USD testing calculated support at 0.8361, onto of 0.8338, and 0.8324.

In the United States, the ISM New York Index (March) came in at 51.2, compared to a figure of 58.8 previously. Moreover, Factory Orders (MoM) grew +3.0% in February, against estimates of +2.9%.

According to the ICN.com analyst team, “The NZD/USD rose resuming the upside correction, which is likely to last in an attempt to retest the earlier-broken support – trading above 0.8305 has become supportive to more rise today.”

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