22 Jul 2013
NZD/USD capped at 0.7950 region
FXstreet.com (New York) - The NZD/USD foreign exchange rate surged higher Monday, establishing fresh session highs as risk appetite abounds during Asian trading.
In what has transpired as a volatile session thus far, the NZD/USD is now operating in the heights of 0.7943, securing a robust gain of +0.59% above its opening at the time of writing. Briefing the technicals, the NZD/USD is already operating above resistance at 0.7940 (200-day SMA) – a movement higher will initiate additional measures of correction at 0.7963 (July 11 high), onto 0.7984 (July 19 high).
NZD/USD strategic bias
According to Jim Langlands at FX Charts, Below 0.7900, the NZD/USD would find buyers at around 0.7850 and then at 0.7800 which currently looks pretty safe. On the topside, sellers will again appear at the 11 July high at 0.7968 and again at 0.7990. Above 0.8000 would see a SL run towards 0.8058 (38.2% of 0.8675/0.7687), however this may be a stretch too far ahead of the RBNZ on Thursday.”
In what has transpired as a volatile session thus far, the NZD/USD is now operating in the heights of 0.7943, securing a robust gain of +0.59% above its opening at the time of writing. Briefing the technicals, the NZD/USD is already operating above resistance at 0.7940 (200-day SMA) – a movement higher will initiate additional measures of correction at 0.7963 (July 11 high), onto 0.7984 (July 19 high).
NZD/USD strategic bias
According to Jim Langlands at FX Charts, Below 0.7900, the NZD/USD would find buyers at around 0.7850 and then at 0.7800 which currently looks pretty safe. On the topside, sellers will again appear at the 11 July high at 0.7968 and again at 0.7990. Above 0.8000 would see a SL run towards 0.8058 (38.2% of 0.8675/0.7687), however this may be a stretch too far ahead of the RBNZ on Thursday.”