5 Mar 2014
NZD/USD posts highest daily close in 4 months above 0.8400
FXStreet (Córdoba) - The NZD/USD rose strongly for the second day in a row and finished above 0.8400 for the first time since October 22. The pair peaked at 0.8431, pulled back and during the American session approached daily highs but failed to break higher, ending the day hovering around 0.8415.
NZD/USD technical outlook
After opening Monday lower, the Kiwi started to moved to the upside, just like what it did in the last two days of last week. Since then it has been rising constantly and on Wednesday broke above 0.8425 (February 28 highs), reaching a fresh monthly high.
The short-term bias points to the upside with support at 0.8390/95, where an hourly uptrend line stand. Below the next support lies at 0.8375 and 0.8340/50 (February 3, 4 lows). To the upside resistance might be located at 0.8430 (March 5 high) and 0.8475.
NZD/USD technical outlook
After opening Monday lower, the Kiwi started to moved to the upside, just like what it did in the last two days of last week. Since then it has been rising constantly and on Wednesday broke above 0.8425 (February 28 highs), reaching a fresh monthly high.
The short-term bias points to the upside with support at 0.8390/95, where an hourly uptrend line stand. Below the next support lies at 0.8375 and 0.8340/50 (February 3, 4 lows). To the upside resistance might be located at 0.8430 (March 5 high) and 0.8475.