29 Jul 2013
NZD/USD fails to breach 0.8100
FXstreet.com (New York) - The NZD/USD foreign exchange rate has bled off its daily gains Monday, having unsuccessfully made an attempt at the 0.8100 level during Asian trading.
NZD/USD technical bias
What has transpired thus far Monday has been a gradual fall in the NZD/USD off of its highs (0.8097), having now crossed over into negative territory at 0.8075. Technically speaking, the NZD/USD will face support at 0.8057 (July 26 low), followed by 0.8049 (200-day SMA), and 0.8021 (June 18 high).
NZD/USD strategic bias
According to Jim Langlands at FX Charts, “The NZD/USD momentum indicators points higher and above Fridays high could see a run towards the 100-day MA at 0.8150 and possibly the descending trend resistance/ 50% pivot of 0.8675/0.7682 at 0.8170. Beyond that would accelerate towards the 200-day MA at 0.8225. The support is to be found now at 0.8050 although back below here could see a swift drop back towards 0.8000.”
NZD/USD technical bias
What has transpired thus far Monday has been a gradual fall in the NZD/USD off of its highs (0.8097), having now crossed over into negative territory at 0.8075. Technically speaking, the NZD/USD will face support at 0.8057 (July 26 low), followed by 0.8049 (200-day SMA), and 0.8021 (June 18 high).
NZD/USD strategic bias
According to Jim Langlands at FX Charts, “The NZD/USD momentum indicators points higher and above Fridays high could see a run towards the 100-day MA at 0.8150 and possibly the descending trend resistance/ 50% pivot of 0.8675/0.7682 at 0.8170. Beyond that would accelerate towards the 200-day MA at 0.8225. The support is to be found now at 0.8050 although back below here could see a swift drop back towards 0.8000.”