30 Apr 2014
Kiwi is on the mend, 0.8580 within reach
FXStreet (Moscow) - NZD/USD is currently trading at 0.8563, up from the intraday lows of 0.8546
Enough is enough for correction?
NZD/USD might have bottomed out at 0.8516 as the pair rebounded from this level and finished Tuesday in the green zone. Note that there is a strong technical support at 0.8515/30 area. It withstood a huber of bearish attacks since the beginning of March. ANZ business confidence indicator dropped to 64.8 in April against 67.3 in March. This is the lowers reading since November 2013. But Kiwi bulls preferred not to notice it as NZD/USD continued to grow steadily early in Asia. If the bulls manage to break above 0.8580, the upside will accelerate to 0.8600 pivot. The support is seen at 0.8530.
What are today’s key NZD/USD levels?
With spot trading at 0.8565, we can see next resistance ahead at 0.8567 (Daily Classic R1), 0.8573 (Daily High), 0.8574 (Hourly 200 SMA), 0.8583 (Daily Classic R2) and 0.8585 (Weekly High).
Support below can be found at 0.8565 (Hourly 100 SMA), 0.8558 (Yesterday's High), 0.8552 (Hourly 20 EMA), 0.8550 (Daily Open) and 0.8546 (Daily Low).
Enough is enough for correction?
NZD/USD might have bottomed out at 0.8516 as the pair rebounded from this level and finished Tuesday in the green zone. Note that there is a strong technical support at 0.8515/30 area. It withstood a huber of bearish attacks since the beginning of March. ANZ business confidence indicator dropped to 64.8 in April against 67.3 in March. This is the lowers reading since November 2013. But Kiwi bulls preferred not to notice it as NZD/USD continued to grow steadily early in Asia. If the bulls manage to break above 0.8580, the upside will accelerate to 0.8600 pivot. The support is seen at 0.8530.
What are today’s key NZD/USD levels?
With spot trading at 0.8565, we can see next resistance ahead at 0.8567 (Daily Classic R1), 0.8573 (Daily High), 0.8574 (Hourly 200 SMA), 0.8583 (Daily Classic R2) and 0.8585 (Weekly High).
Support below can be found at 0.8565 (Hourly 100 SMA), 0.8558 (Yesterday's High), 0.8552 (Hourly 20 EMA), 0.8550 (Daily Open) and 0.8546 (Daily Low).