16 Oct 2013
NZD/USD retaking strength; targets at 0.8440
FXstreet.com (Chicago) - NZD/USD prints higher lows and highs despite fall from 0.8446 session highs shortly after a US political deal was announced.
Public appearances will take place later in the day in the US possibly announcing the deal and what it implies for both parties and the country. With no public data coming in for NZ, price movement is set to be directed by market participants’ reactions to politicians’ words.
NZD/USD Technical Levels
Price action reveals the pair extends the bullish channel from October 9th after spike above the 0.8440 zone. Offered at 0.8426, the pair oscillates between the supports aligned at 0.8390 (September 22nd highs), 0.8353 (October 4th highs) ahead of 0.8277 (October 3rd lows) and the resistances set at 0.8430 (September 10th highs), 0.8478 (January 30th highs) followed by 0.8554 (April 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.
Public appearances will take place later in the day in the US possibly announcing the deal and what it implies for both parties and the country. With no public data coming in for NZ, price movement is set to be directed by market participants’ reactions to politicians’ words.
NZD/USD Technical Levels
Price action reveals the pair extends the bullish channel from October 9th after spike above the 0.8440 zone. Offered at 0.8426, the pair oscillates between the supports aligned at 0.8390 (September 22nd highs), 0.8353 (October 4th highs) ahead of 0.8277 (October 3rd lows) and the resistances set at 0.8430 (September 10th highs), 0.8478 (January 30th highs) followed by 0.8554 (April 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.