7 May 2014
NZD/USD pullback contained by 0.8680
FXStreet (Córdoba) - The NZD/USD is taking a breather during the European session after falling sharply from multi-year highs in the wake of RBNZ warn of intervention.
The NZD/USD dropped nearly a full cent from an almost 3-year high of 0.8779 hit Tuesday, after the RBNZ Governor Wheeler warned it could intervene against a strong currency. The Kiwi is currently trading down 0.55% at 0.8690, having bottomed out at 0.8680 earlier on the day.
NZD/USD levels to watch
In terms of technical levels, to the downside, immediate supports are seen at 0.8680 (May 7 low), 0.8647 (May 5 low) and 0.8626 (21-day SMA). To the upside, resistances could be found at 0.8779 (2014 high May 6) and 0.8782 (Aug 2 2011 high) ahead of 0.8800 (psychological level).
The NZD/USD dropped nearly a full cent from an almost 3-year high of 0.8779 hit Tuesday, after the RBNZ Governor Wheeler warned it could intervene against a strong currency. The Kiwi is currently trading down 0.55% at 0.8690, having bottomed out at 0.8680 earlier on the day.
NZD/USD levels to watch
In terms of technical levels, to the downside, immediate supports are seen at 0.8680 (May 7 low), 0.8647 (May 5 low) and 0.8626 (21-day SMA). To the upside, resistances could be found at 0.8779 (2014 high May 6) and 0.8782 (Aug 2 2011 high) ahead of 0.8800 (psychological level).