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Forex: NZD/USD retreats off highs to 0.8448/52

FXstreet.com (Barcelona) - The NZD/USD movement higher stalled at the 0.8471 level (daily high) during the onset of European trading Thursday, leading to a shedding of gains in recent moments. Though the pair is still trading positively +0.08%, the cross has settled at 0.8448/52, clearly off its highs.

Mataf.net analysts reveal means of resistive correction at 0.8470, ahead of 0.8514, and 0.8535. Conversely, a break below 0.8405 will initiate supportive measures at 0.8384 and 0.8340.

“The NZD/USD resided above 23.6% correction at 0.8450, which is a positive catalyst capable of lifting the pair higher. Linear Regression Indicators, however are still negative, compelling us to stand neutral waiting for better signs of a certain direction.” warns the ICN.com analyst team.

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