9 Jul 2013
NZD/USD back around 0.78 post-China CPI
FXstreet.com (Barcelona) - The NZD/USD foreign exchange rate is currently trading at 0.7799, off recent session lows at 0.7760, printed on the back of better than expected China CPI at 2.7% y/y vs. 2.5%.
NZD/USD looking higher
According to FX Charts analyst Jim Langlands, “the sharp turnaround in the 4 hour MACD’s suggest we could yet take a look at the topside, possibly to the top of the channel, currently at 0.7895. On the downside, a decline would find buyers at 0.7770 and then at the pretty solid base at 0.7700.”
NZD/USD key technical levels
Immediate resistance to the upside for NZD/USD shows at current levels as Friday's Asian session lows 0.7801, followed by yesterday's weekly highs and July 01/02 highs, and Friday's highs at 0.7850. To the downside, closest support lies at recent session lows 0.7760, followed by July 02 lows at 0.7735, and July 01/03 lows at 0.7709.
NZD/USD looking higher
According to FX Charts analyst Jim Langlands, “the sharp turnaround in the 4 hour MACD’s suggest we could yet take a look at the topside, possibly to the top of the channel, currently at 0.7895. On the downside, a decline would find buyers at 0.7770 and then at the pretty solid base at 0.7700.”
NZD/USD key technical levels
Immediate resistance to the upside for NZD/USD shows at current levels as Friday's Asian session lows 0.7801, followed by yesterday's weekly highs and July 01/02 highs, and Friday's highs at 0.7850. To the downside, closest support lies at recent session lows 0.7760, followed by July 02 lows at 0.7735, and July 01/03 lows at 0.7709.