27 Nov 2013
NZD/USD can’t hold on to 0.82
FXstreet.com (Chicago) - NZD/USD struggled to retain the 0.82 and attempts to retake it after fall below a previous support, now immediate resistance ahead of Tokyo’s start.
Data releases
The most recent data published in New Zealand was the country’s trade balance at $-168M vs. expected $-350M, beating expectations (MoM) and a yearly result at $-1B vs. estimates at $-1.14B.
NZD/USD Technical Levels
Price action reveals the pair falls below the previously broken resistance and remains very close to it ahead of Tokyo’s opening. The pair stalls around the 50% Fibonacci level (0.8120/0.8270) after managing to stop the bearish channel that originated at the opening of Tuesday’s session. Offered at 0.8192, the pair oscillates between the supports aligned at 0.8155 (September 18th lows), 0.8124 (November 21st lows) ahead of 0.8091 (September 14th lows) and the resistances set at 0.8192 (October 2nd lows), 0.8230 (October 10th lows) followed by 0.8267 (October 28th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and oscillates below the EMA20.
Data releases
The most recent data published in New Zealand was the country’s trade balance at $-168M vs. expected $-350M, beating expectations (MoM) and a yearly result at $-1B vs. estimates at $-1.14B.
NZD/USD Technical Levels
Price action reveals the pair falls below the previously broken resistance and remains very close to it ahead of Tokyo’s opening. The pair stalls around the 50% Fibonacci level (0.8120/0.8270) after managing to stop the bearish channel that originated at the opening of Tuesday’s session. Offered at 0.8192, the pair oscillates between the supports aligned at 0.8155 (September 18th lows), 0.8124 (November 21st lows) ahead of 0.8091 (September 14th lows) and the resistances set at 0.8192 (October 2nd lows), 0.8230 (October 10th lows) followed by 0.8267 (October 28th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and oscillates below the EMA20.