10 Jul 2013
NZD/USD capped at horizontal resistance
FXstreet.com (London) - NZD/USD has continued to rise and prints fresh highs on the week.
NZD/USD has risen to 0.7886 and has moved away from the 0.7700 handle and support zone built in June. Data wise, we will see the Business NZ PMI (Jun) with a previous reading of 59.2. However, more in focus will be the FOMC minutes. Noting that NZD faired pretty well comparatively against the dollar after last weeks NFP’s.
NZD/USD breaking to the upside
The NZD/USD needs to confirm stability through the current resistance of 0.7860 that has been active since the pair found support in June. Danske technical offer support as 0.7721,0.7748, 0.7763 and 0.7820. Resistance is sighted at 0.7894, 0.7910, 0.7947 and 0.7964.
NZD/USD has risen to 0.7886 and has moved away from the 0.7700 handle and support zone built in June. Data wise, we will see the Business NZ PMI (Jun) with a previous reading of 59.2. However, more in focus will be the FOMC minutes. Noting that NZD faired pretty well comparatively against the dollar after last weeks NFP’s.
NZD/USD breaking to the upside
The NZD/USD needs to confirm stability through the current resistance of 0.7860 that has been active since the pair found support in June. Danske technical offer support as 0.7721,0.7748, 0.7763 and 0.7820. Resistance is sighted at 0.7894, 0.7910, 0.7947 and 0.7964.