11 Oct 2013
NZD/USD can’t resist bearish pressure; below 0.83
FXstreet.com (Chicago) - NZD/USD extends short-term bearish channel after attempting to regain the 0.83 zone amid rumors on US government shutdown finale.
Ahead of New Zealand data due at 22:45 GMT and amid rumors of the potential ending of US crisis, the pair resists bearish pressure around the Fibonacci level at 38.2%.
NZD/USD Technical Levels
Technically speaking, the pair extends trading range and exhausts bullish rally from yesterday’s session below the 0.8240 zone. Offered at 0.8281, the pair navigates between supports aligned a 0.8270 (October 7th lows), 0.8245 (September 27th lows) ahead of 0.8215 (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). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Ahead of New Zealand data due at 22:45 GMT and amid rumors of the potential ending of US crisis, the pair resists bearish pressure around the Fibonacci level at 38.2%.
NZD/USD Technical Levels
Technically speaking, the pair extends trading range and exhausts bullish rally from yesterday’s session below the 0.8240 zone. Offered at 0.8281, the pair navigates between supports aligned a 0.8270 (October 7th lows), 0.8245 (September 27th lows) ahead of 0.8215 (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). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.