2 May 2014
NZD/USD rises further to 0.8670
FXStreet (Córdoba) - The NZD/USD climbed to 0.8669, fresh 2-week high, during the American session and holds near 0.8670 consolidating importante weekly gains. After NPF the pair dropped to 0.8590 but then bounced sharply rising back above 0.8640 and then turned even higher during New York trading.
NZD/USD technical outlook
The pair is about to close the week trading at the strongest level since April 15 and hold a bullish tone in the short term. But on a wider perspective the NZD/USD still trades below an important resistance zone located around 0.8700 that capped the upside several times during the previous weeks.
In the last day the pair has completed a strong reversal after starting the week trading close to 0.8500. Afterwards the Kiwi bounce on risk appetite and a weak US dollar, and it was able to avoid a weekly close below 0.8500.
NZD/USD technical outlook
The pair is about to close the week trading at the strongest level since April 15 and hold a bullish tone in the short term. But on a wider perspective the NZD/USD still trades below an important resistance zone located around 0.8700 that capped the upside several times during the previous weeks.
In the last day the pair has completed a strong reversal after starting the week trading close to 0.8500. Afterwards the Kiwi bounce on risk appetite and a weak US dollar, and it was able to avoid a weekly close below 0.8500.