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NZD/USD setting sight towards 0.85+

FXStreet (Bali) - NZD/USD managed to find enough buyers to set a temporary base around 0.84, with the key 0.85 now providing immediate resistance.

While the local New Zealand calendar lack any major release this week, in the US, some key risk events for the pair are due, with Wednesday's FOMC minutes, followed by Friday's Fed Jackson hole symposium.

Technically, Jim Langlands, Founder at FXCharts, notes: "The dailies are beginning to point a bit higher and if 0.8500/10 can be overcome we could be in for a run up towards 0.8535 (1 Aug high), above which the Kiwi could make a run towards 0.8586 (25 July high). On the downside, we could head back towards support at the daily Tenkan/200 DMA at 0.8460/65 which has so far done a decent job of propping it up over the last couple of sessions."

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