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13 Aug 2013
NZD/USD extends correction below 0.8000
FXstreet.com (Barcelona) - The NZD/USD foreign exchange rate is last trading at fresh session lows 0.7976, down -0.77% for the week so far, on the back of broad USD strength and Yen weakness accelerating in late NY trading.
NZD/USD looking for another day of consolidation
“The Kiwi pulled back a little today, in the face of some buying of the US$, in what is probably a healthy correction following the recent run higher from last Monday’s lows,” said FX Charts analyst Jim Langlands, who thinks “below today’s low would probably see the Kiwi head towards 0.7935 (38.2%).” “Look for another day of consolidation, with the chance of some more mild buying of the US$ but I would be surprised to see it much below 0.7950, or above 0.8050,” Langlands added.
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at recent session lows/July 11 highs 0.7969, followed by July 24 lows at 0.7907, and July 22 lows at 0.7878. To the upside, closest resistance shows at London session lows 0.7991, followed by NY session highs at 0.8044, and Friday's/Monday's highs at 0.8058.
NZD/USD looking for another day of consolidation
“The Kiwi pulled back a little today, in the face of some buying of the US$, in what is probably a healthy correction following the recent run higher from last Monday’s lows,” said FX Charts analyst Jim Langlands, who thinks “below today’s low would probably see the Kiwi head towards 0.7935 (38.2%).” “Look for another day of consolidation, with the chance of some more mild buying of the US$ but I would be surprised to see it much below 0.7950, or above 0.8050,” Langlands added.
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at recent session lows/July 11 highs 0.7969, followed by July 24 lows at 0.7907, and July 22 lows at 0.7878. To the upside, closest resistance shows at London session lows 0.7991, followed by NY session highs at 0.8044, and Friday's/Monday's highs at 0.8058.