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28 Mar 2013
Forex: NZD/USD falls off session highs to 0.8375/76
FXstreet.com (Barcelona) - The NZD/USD has stumbled off its intraday highs at 0.8388 in recent minutes, whereby resistance kicked in and left the pair erasing its gains. Having eased to 0.8375/76 in these moments, the cross is recording an advance of +0.10% still.
The NZD/USD is trading below its linear regression indicators, which in turn are attempting to bearish crossover with LRI 34. We cannot confirm negativity in the time being, especially as the pair failed to reside below the support at 0.8355. Therefore, we prefer to stand aside until signs of a specific direction appear.” suggests the ICN.com analyst team.
Briefing the technicals, ICN.com analysts identify corrective measures of resistance at 0.8385, then 0.8400, and finally the 0.8415 handle. Conversely, supports for the NZD/USD will initiate at 0.8355 onto 0.8310 and ultimately 0.8275.
The NZD/USD is trading below its linear regression indicators, which in turn are attempting to bearish crossover with LRI 34. We cannot confirm negativity in the time being, especially as the pair failed to reside below the support at 0.8355. Therefore, we prefer to stand aside until signs of a specific direction appear.” suggests the ICN.com analyst team.
Briefing the technicals, ICN.com analysts identify corrective measures of resistance at 0.8385, then 0.8400, and finally the 0.8415 handle. Conversely, supports for the NZD/USD will initiate at 0.8355 onto 0.8310 and ultimately 0.8275.