29 Oct 2013
NZD/USD, embrace for reversal?
FXstreet.com (Chicago) - NZD/USD seems to consolidate reversal after bouncing off 0.8234 session lows. The pair is down 0.40% so far.
Ahead of the interest rate decision by the RBNZ, market participants favor the kiwi attempting to erase gains partially. In the US, the Fed maintained its interest rate at 0.25% and no tapering took place.
NZD/USD Technical Levels
Price action reveals the pair continues trading around 2-week lows after finding grounds around the 0.8240 front. Consolidating a potential reversal, the pair attempts to reach the 0.8270 zone. Offered at 0.8260, the pair navigates between the supports aligned at 0.8240 (September 17th highs), 0.82 (September 18th lows) followed by 0.8164 (September 13th highs) and the resistances set at 0.8270 (October 8th lows), 0.8313 (September 27th highs) followed by 0.8355 (October 10th highs).
Ahead of the interest rate decision by the RBNZ, market participants favor the kiwi attempting to erase gains partially. In the US, the Fed maintained its interest rate at 0.25% and no tapering took place.
NZD/USD Technical Levels
Price action reveals the pair continues trading around 2-week lows after finding grounds around the 0.8240 front. Consolidating a potential reversal, the pair attempts to reach the 0.8270 zone. Offered at 0.8260, the pair navigates between the supports aligned at 0.8240 (September 17th highs), 0.82 (September 18th lows) followed by 0.8164 (September 13th highs) and the resistances set at 0.8270 (October 8th lows), 0.8313 (September 27th highs) followed by 0.8355 (October 10th highs).