7 Aug 2013
NZD/USD clings to robust gains, 0.8000 eludes
FXstreet.com (New York) - The NZD/USD foreign exchange rate touched the 0.8000 level yesterday (Tuesday high), though ultimately this barrier proved too much to hold onto.
NZD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The NZD/USD maintains fluctuations, trading past the 0.7900 resistance area yesterday and establishing its presence above 0.7940, which cancels a near-term bearish scenario.”
Technically speaking, the NZD/USD is now operating at 0.7970, sailing higher Thursday morning during Asian trading. Should the pair climb higher, resistances will hold the NZD/USD in check at 0.7971 (20-day SMA), onto 0.8000 (August 7 high), and 0.8011 (July 31 high).
NZD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The NZD/USD maintains fluctuations, trading past the 0.7900 resistance area yesterday and establishing its presence above 0.7940, which cancels a near-term bearish scenario.”
Technically speaking, the NZD/USD is now operating at 0.7970, sailing higher Thursday morning during Asian trading. Should the pair climb higher, resistances will hold the NZD/USD in check at 0.7971 (20-day SMA), onto 0.8000 (August 7 high), and 0.8011 (July 31 high).