26 Sep 2013
NZD/USD, below EMA20; continues pips hemorrhage
FXstreet.com (Chicago) - NZD/USD continues giving in pips after a bloody week despite mixed US housing market results and concerns about the debt ceiling in the American country. The pair still accumulates 4.97% monthly gains but prints 1.42% losses so far.
While politicians debate about the US debt deficit in the country ahead of two budget and debt ceiling deficits next month, the kiwi strengthens against the dollar prior to Tokyo’s opening. Mixed housing market data in the American country and equity indexes printing losses again reveal uneasy market participants that weigh in economic scenarios.
NZD/USD Technical Levels
Price action reveals a steep fall that ended around the 0.82 zone, yesterday’s session lows, and an elliptical movement with upward limits at 0.8270. Finding grounds around the 0.8240 area, where the pair seeks consolidation, the upward trendline originated last August 30th remains violated and the secondary trend continues pointing down – contrary to the primary one. Offered at 0.8241, the pair navigates between supports aligned at 0.8210 (September 15th highs), 0.8162 (September 16th lows) followed by 0.81 (September 12th lows) and the resistances set at 0.8267 (September 25th highs), 0.83 (May 1st highs) ahead of 0.8352 (September 18th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis right below the EMA20.
While politicians debate about the US debt deficit in the country ahead of two budget and debt ceiling deficits next month, the kiwi strengthens against the dollar prior to Tokyo’s opening. Mixed housing market data in the American country and equity indexes printing losses again reveal uneasy market participants that weigh in economic scenarios.
NZD/USD Technical Levels
Price action reveals a steep fall that ended around the 0.82 zone, yesterday’s session lows, and an elliptical movement with upward limits at 0.8270. Finding grounds around the 0.8240 area, where the pair seeks consolidation, the upward trendline originated last August 30th remains violated and the secondary trend continues pointing down – contrary to the primary one. Offered at 0.8241, the pair navigates between supports aligned at 0.8210 (September 15th highs), 0.8162 (September 16th lows) followed by 0.81 (September 12th lows) and the resistances set at 0.8267 (September 25th highs), 0.83 (May 1st highs) ahead of 0.8352 (September 18th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis right below the EMA20.