31 Jul 2013
NZD/USD unable to overtake the 0.8000 barrier
FXstreet.com (New York) - The NZD/USD has been unable to shake its negatively thus far, refusing to break above the 0.8000 region, which has effectively alluded the pair during yesterdays sessions.
Later today at 3:00 GMT, New Zealand is slated to release the M3 Money Supply (YoY). Across the Tasman, Australia will be reporting Private sector credit figures, albeit at 1:30 GMT.
NZD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The NZD/USD touched the pivotal 0.7970 support level earlier, having dipping sharply without any sustained pullback thus far. Therefore we might see a near-term bounce form this key support, possibly culminating in an upside rebound over the near-term basis.”
NZD/USD technical bias
In these moments, the NZD/USD is negotiating an exchange of 0.7990, still operating negatively, and unable to summit the 0.8000 level Wednesday morning during Asian trading. In terms of the technical levels, the NZD/USD will face support at 0.7960 (July 23 low), ahead of 0.7951 (July 22 high), and 0.7926 (July 17 low).
Later today at 3:00 GMT, New Zealand is slated to release the M3 Money Supply (YoY). Across the Tasman, Australia will be reporting Private sector credit figures, albeit at 1:30 GMT.
NZD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The NZD/USD touched the pivotal 0.7970 support level earlier, having dipping sharply without any sustained pullback thus far. Therefore we might see a near-term bounce form this key support, possibly culminating in an upside rebound over the near-term basis.”
NZD/USD technical bias
In these moments, the NZD/USD is negotiating an exchange of 0.7990, still operating negatively, and unable to summit the 0.8000 level Wednesday morning during Asian trading. In terms of the technical levels, the NZD/USD will face support at 0.7960 (July 23 low), ahead of 0.7951 (July 22 high), and 0.7926 (July 17 low).