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29 Aug 2013
NZD/USD inching higher above 0.7800
FXstreet.com (Barcelona) - The NZD/USD foreign exchange rate is last trading near session session highs at 0.7830 following lower NZ ANZ business confidence than previous lecture, coming out at 48.1 vs 52.8 previous.
NZD/USD on an overall downtrend
According to Chris Tevere, CMT at FOREX.com: “Kiwi is currently approaching long-term channel support drawn from the November 2011 low around 0.7700/20. Should the recent flight-to-safety due to the events in Syria continue, we could see NZDUSD break below this highlighted level of support. Importantly, weekly RSI still remains below the key 60/65 zone, which is indicative of an overall downtrend.”
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at yesterday's Asian session highs 0.7809, followed by recent session lows at 0.7786, and Tuesday's/Friday's lows 0.7765/60. To the upside, closest resistance shows at recent session highs 0.7839, followed by August 01 lows at 0.7850, and Monday's weekly highs at 0.7871/76.
NZD/USD on an overall downtrend
According to Chris Tevere, CMT at FOREX.com: “Kiwi is currently approaching long-term channel support drawn from the November 2011 low around 0.7700/20. Should the recent flight-to-safety due to the events in Syria continue, we could see NZDUSD break below this highlighted level of support. Importantly, weekly RSI still remains below the key 60/65 zone, which is indicative of an overall downtrend.”
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at yesterday's Asian session highs 0.7809, followed by recent session lows at 0.7786, and Tuesday's/Friday's lows 0.7765/60. To the upside, closest resistance shows at recent session highs 0.7839, followed by August 01 lows at 0.7850, and Monday's weekly highs at 0.7871/76.