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14 Aug 2014
NZD/USD sheds gains to supporting channel
FXStreet (Guatemala) - NZD/USD is trading at 0.8465, up 0.09% on the day, having posted a daily high at 0.8490 and low at 0.8455.
Despite the positive data releases from New Zealand earlier, the pair has been diminished back to where it started from. Jim Langlands, analyst at FX Charts suggest that the downside looks protected at 0.8430 and he said that he doesn’t think we are heading below the recent 0.8408 low (38.2% of 0.7718/0.8835) today. “If wrong, further support would be seen at the 4 June low at 0.8401. If/when 0.8400 eventually gives way, a deeper correction would most likely head rather quickly to 0.8275/0.8300, with little support to be seen in between there and 0.8400. Unlikely for now and I suspect that we are more likely in for a run back towards 0.8500”
NZD/USD levels
Spot is presently trading at 0.8465, and next resistance can be seen at 0.8492 (Daily Classic R2), 0.8521 (Daily Classic R3), 0.8522 (Weekly Classic R1) and 0.8543 (Daily 20 SMA). Support below can be found at 0.8460, 0.8450 and 0.8430.
Despite the positive data releases from New Zealand earlier, the pair has been diminished back to where it started from. Jim Langlands, analyst at FX Charts suggest that the downside looks protected at 0.8430 and he said that he doesn’t think we are heading below the recent 0.8408 low (38.2% of 0.7718/0.8835) today. “If wrong, further support would be seen at the 4 June low at 0.8401. If/when 0.8400 eventually gives way, a deeper correction would most likely head rather quickly to 0.8275/0.8300, with little support to be seen in between there and 0.8400. Unlikely for now and I suspect that we are more likely in for a run back towards 0.8500”
NZD/USD levels
Spot is presently trading at 0.8465, and next resistance can be seen at 0.8492 (Daily Classic R2), 0.8521 (Daily Classic R3), 0.8522 (Weekly Classic R1) and 0.8543 (Daily 20 SMA). Support below can be found at 0.8460, 0.8450 and 0.8430.