1 Aug 2013
NZD/USD bounces off lows
FXstreet.com (New York) - The NZD/USD foreign exchange rate bounced off recent lows at the 0.7925, paring a portion of its losses during Asian trading.
Ahead of a key PMI release in China later today at 1:00 GMT, the NZD/USD is presently trading at the 0.7946 level, currently incurring a decline of -0.45%. Technically speaking, the NZD/USD will face support 0.7932 (July 31 low), ahead of 0.7909 (July 24 low), and 0.7884 (July 19 low).
NZD/USD strategic bias
According to Jim Langlands at FX Charts, “We are now going to hang about for the China data and for the time being use the Fibo levels at 0.7940/0.8015 as a guide to the likely range. The 4-hour and daily charts are a bit mixed and I have no real bias either way at present, although I suspect that dips may be buying opportunities. Below today’s low, would prove me wrong and probably head towards 0.7845 (61.8% 0.7686/ 0.8065).”
Ahead of a key PMI release in China later today at 1:00 GMT, the NZD/USD is presently trading at the 0.7946 level, currently incurring a decline of -0.45%. Technically speaking, the NZD/USD will face support 0.7932 (July 31 low), ahead of 0.7909 (July 24 low), and 0.7884 (July 19 low).
NZD/USD strategic bias
According to Jim Langlands at FX Charts, “We are now going to hang about for the China data and for the time being use the Fibo levels at 0.7940/0.8015 as a guide to the likely range. The 4-hour and daily charts are a bit mixed and I have no real bias either way at present, although I suspect that dips may be buying opportunities. Below today’s low, would prove me wrong and probably head towards 0.7845 (61.8% 0.7686/ 0.8065).”