22 Jul 2013
NZD/USD stabilizes above 0.7900 region
FXstreet.com (New York) - The NZD/USD foreign exchange rate has secured its grip on the 0.7900 level Monday during Asian trading, shaking off multiple regional and domestic stimuli to remain in positive territory.
New Zealand is slated to report a plethora of trade statistics Tuesday, including the Trade Balance, Import, and Export data in the month of June.
NZD/USD technical bias
In terms of the technical levels, the NZD/USD will face calculated resistance at 0.7934 (55-day MA), onto 0.7946 (50-day SMA), and finally 0.7991 (July 19 high). Conversely, the pair remains fortified by supports at 0.7906 (200-day SMA).
The NZD/USD rose last Friday after a trickle of Chinese news, which drove the pair to a high of 0.7991 – however the pair trended lower towards 0.7920 at the close, presently trading in the region of 0.7914 in these moments, up +0.25%. In other news, yesterday a 6.5-magnitude earthquake in Wellington was reported.
New Zealand is slated to report a plethora of trade statistics Tuesday, including the Trade Balance, Import, and Export data in the month of June.
NZD/USD technical bias
In terms of the technical levels, the NZD/USD will face calculated resistance at 0.7934 (55-day MA), onto 0.7946 (50-day SMA), and finally 0.7991 (July 19 high). Conversely, the pair remains fortified by supports at 0.7906 (200-day SMA).
The NZD/USD rose last Friday after a trickle of Chinese news, which drove the pair to a high of 0.7991 – however the pair trended lower towards 0.7920 at the close, presently trading in the region of 0.7914 in these moments, up +0.25%. In other news, yesterday a 6.5-magnitude earthquake in Wellington was reported.