16 Oct 2013
NZD/USD back above 0.84
FXstreet.com (Chicago) - NZD/USD continues gaining strength against a baffled dollar after negotiations were unsuccessful in the US and Fitch announced a possible downgrade.
Tonight’s potential vote for a solution to the US crisis is dead as confirmed by the White House and news sources. In New Zealand, the CPI for Q3 was 0.9% matching expectations while the yearly results were 1.4% vs. expected 1.3%.
NZD/USD Technical Levels
Price action reveals the extension of an upward trendline that started last October 9th after trading range lasting almost two weeks. Reaching the 0.84 zone again, the pair targets the consolidation above that zone as it retraced around the 0.8390 zone. Breaking immediate resistance, now support, the pair is offered at 0.8393 and oscillates between supports aligned at 0.8390 (September 23rd highs), 0.8353 (October 1st highs) ahead of 0.8277 (October 8th lows) and the resistances set at 0.8430 (September 20th highs), 0.8478 (May 10th highs) followed by 0.8554 (May 1st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Tonight’s potential vote for a solution to the US crisis is dead as confirmed by the White House and news sources. In New Zealand, the CPI for Q3 was 0.9% matching expectations while the yearly results were 1.4% vs. expected 1.3%.
NZD/USD Technical Levels
Price action reveals the extension of an upward trendline that started last October 9th after trading range lasting almost two weeks. Reaching the 0.84 zone again, the pair targets the consolidation above that zone as it retraced around the 0.8390 zone. Breaking immediate resistance, now support, the pair is offered at 0.8393 and oscillates between supports aligned at 0.8390 (September 23rd highs), 0.8353 (October 1st highs) ahead of 0.8277 (October 8th lows) and the resistances set at 0.8430 (September 20th highs), 0.8478 (May 10th highs) followed by 0.8554 (May 1st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.