10 Oct 2013
NZD/USD reacts around 0.8272 session lows after strong punch
FXstreet.com (Chicago) - NZD/USD tops worst performers this Thursday in Asia plunging 0.34% pips within an hour for a total weekly loss of 0.48%. The pair is still green in monthly performance up 2.59% but losses account for over 100 pips in a few days. Free-falling to 0.8272 session lows, the pair struggles to stretch higher.
The US announcement of Yellen’s new chairman makes headlines prior Boehner’s meeting with republicans in later hours that could conclude with the ending of the government shutdown. On earlier NZ data release, the business NZ PMI for September was 54.3 vs. past 57.5. Better than expected Australian job market data seem to be having a negative impact on the pair.
NZD/USD Technical Levels
Price action reveals a rectangular pattern formation after sideways movement since Monday. Plunging to 0.8272 session lows (strong support October 7th and 8th bottoms), the pair approaches immediate support close to the 0.8270 zone. Offered at 0.8276, the pair navigates between 0.8270 (October 7th lows), 0.8245 (September 27th lows) ahead of 0.8215 support (September 25th lows) and the resistances set at 0.8319 (October 3rd highs), 0.8343 (October 1st highs) followed by 0.8363 (September 23rd lows).
The US announcement of Yellen’s new chairman makes headlines prior Boehner’s meeting with republicans in later hours that could conclude with the ending of the government shutdown. On earlier NZ data release, the business NZ PMI for September was 54.3 vs. past 57.5. Better than expected Australian job market data seem to be having a negative impact on the pair.
NZD/USD Technical Levels
Price action reveals a rectangular pattern formation after sideways movement since Monday. Plunging to 0.8272 session lows (strong support October 7th and 8th bottoms), the pair approaches immediate support close to the 0.8270 zone. Offered at 0.8276, the pair navigates between 0.8270 (October 7th lows), 0.8245 (September 27th lows) ahead of 0.8215 support (September 25th lows) and the resistances set at 0.8319 (October 3rd highs), 0.8343 (October 1st highs) followed by 0.8363 (September 23rd lows).