11 Nov 2013
NZD/USD moving higher on bullish Asia-Pacific attitude early Monday
FXstreet.com (Barcelona) - The NZD/USD cross is continuing the bounce that began late Friday – now with a little more gusto thanks to bullish Chinese data over the weekend and bullish action in the equity markets in the region early Monday.
NZD/USD traders to focus on technicals given the dearth of US data Monday
The NZD/USD cross little / no data to which it can react for the rest of the Monday session since the US markets are closed due to Veterans’ Day. In such a void of data flow, technicals tend to take over.
Technical outlook for NZD/USD
Elliott Wave technicians say NZD/USD is in the early stages of the “c” wave of an “abc” correction higher. The upside target for this wave is approximately 0.8429 using Elliott Wave measuring techniques. Initial support comes in at Friday’s low of 0.8235 and is followed by the 10/30 low of 0.8191.
NZD/USD traders to focus on technicals given the dearth of US data Monday
The NZD/USD cross little / no data to which it can react for the rest of the Monday session since the US markets are closed due to Veterans’ Day. In such a void of data flow, technicals tend to take over.
Technical outlook for NZD/USD
Elliott Wave technicians say NZD/USD is in the early stages of the “c” wave of an “abc” correction higher. The upside target for this wave is approximately 0.8429 using Elliott Wave measuring techniques. Initial support comes in at Friday’s low of 0.8235 and is followed by the 10/30 low of 0.8191.