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Forex: NZD/USD trading positively at 0.8520/22

FXstreet.com (Barcelona) - The NZD/USD has edged higher Friday, with all eyes focused on the United States later today and the vaunted release of Nonfarm payroll data. During European trading however, the cross has remained fairly sideways, though is entrenched in positive territory at 0.8520/22 in these moments.

According to the ICN.com Technical Analyst Team, “The NZD/USD is currently rising after touching zones around the resistance at 0.8500 points, which we expect will witness renewed negative pressures. Stabilizing below 0.8530 maintains expectations of a potential downtrend throughout Thursday's session, forecasts supported by its linear regression indicators.”

Mataf.net analysts point to resistive means for the NZD/USD at 0.8545, ahead of 0.8571, and ultimately 0.8616. Conversely, a break below 0.8474 will initiate resistance at 0.8429 and 0.8403.

“The kiwi is relatively vulnerable should any negative piece of global and/or NZ news trigger a flight back into ‘safe-haven’ assets.” warns the BNZ Research Team.

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