30 Jul 2013
NZD/USD holding ground at 0.8017 support. Are the sellers done?
FXstreet.com (Barcelona) - The NZD/USD had a very strong week last week – strong enough that correction resistance was eclipsed and more upside potential opened up. Pullbacks are buying opportunities for the time being say technicians.
NZD/USD will have plenty of data drivers this week
NZD/USD traders will obviously have plenty of data to digest throughout the rest of the week – culminating with Friday’s monthly jobs report in the US. The next data due out for the NZD/USD crowd will be Tuesday’s home prices and consumer confidence data from the US at 13:00 and 14:00 GMT respectively.
NZD/USD has support at 0.8017, but more likely support is still lower
Even as the NZD/USD made a nice run last week and opened up more upside potential, a pullback was due. The question is, “Where will it stop?” Using Fibonacci retracement lines, technicians have identified 0.8017 and 0.7962 as potential stopping points for the pullback. Resistance comes in at Thursday’s high of 0.8105 and horizontal line support at 0.8178.
NZD/USD will have plenty of data drivers this week
NZD/USD traders will obviously have plenty of data to digest throughout the rest of the week – culminating with Friday’s monthly jobs report in the US. The next data due out for the NZD/USD crowd will be Tuesday’s home prices and consumer confidence data from the US at 13:00 and 14:00 GMT respectively.
NZD/USD has support at 0.8017, but more likely support is still lower
Even as the NZD/USD made a nice run last week and opened up more upside potential, a pullback was due. The question is, “Where will it stop?” Using Fibonacci retracement lines, technicians have identified 0.8017 and 0.7962 as potential stopping points for the pullback. Resistance comes in at Thursday’s high of 0.8105 and horizontal line support at 0.8178.