17 Jan 2014
NZD/USD giving back Thursday's gains
FXstreet.com (Bali) - NZD/USD is trading softer in Asia, currently back around 0.8320 as 0.8360 resistance caps.
On Thursday, a 3-day retreat off 0.8450+ levels saw buyers make a comeback around the 0.83 zone, sending the pair on a rebound higher, which so far has seen 0.8860 (sequence of lows Jan 14) protect the upside with great success. From a daily perspective, the 0.81-0.84 is the clear range to play.
NZD/USD technicals
According to Jim Langlands, Founder at FXCharts: "On the topside, 0.8370 and 0.8390 will see sellers ahead of 0.8400, and I suspect the weeks high of 0.8432 may be too far distant for the coming session. On the downside, 0.8300 will again prove strong. Below that 0.8280 and 0.8250 will provide backup support and would suggest a return to the 0.82/0.83 consolidation."
On Thursday, a 3-day retreat off 0.8450+ levels saw buyers make a comeback around the 0.83 zone, sending the pair on a rebound higher, which so far has seen 0.8860 (sequence of lows Jan 14) protect the upside with great success. From a daily perspective, the 0.81-0.84 is the clear range to play.
NZD/USD technicals
According to Jim Langlands, Founder at FXCharts: "On the topside, 0.8370 and 0.8390 will see sellers ahead of 0.8400, and I suspect the weeks high of 0.8432 may be too far distant for the coming session. On the downside, 0.8300 will again prove strong. Below that 0.8280 and 0.8250 will provide backup support and would suggest a return to the 0.82/0.83 consolidation."