21 Aug 2013
NZD/USD plummeting still. Will 0.7892 target hold for now?
FXstreet.com (Barcelona) - The selling that began early Tuesday in the NZD/USD on the dovish commentary from RBNZ Governor Wheeler has continued into the early Wednesday hours.
NZD/USD likely to catch a bounce soon. Will US data help or hurt?
The NZD/USD cross has continued to get hammered on a short-term basis after the dovish commentary by the Reserve Bank of New Zealand’s Governor Wheeler. The NZD/USD easily broke below the short-term support level at 0.7950 and is now rapidly approaching the projected downside target at 0.7892. Now, with Governor Wheeler’s comments in the rear view mirror, traders will be looking to US data and news flow for directional guidance for the rest of the week.
Technical outlook for NZD/USD
Technicians now think a top has been put in for NZD/USD at 0.8162. They now say NZD/USD could be headed down to 0.7294 eventually. Short-term support, as noted above, comes into play at the projected low at 0.7892.
NZD/USD likely to catch a bounce soon. Will US data help or hurt?
The NZD/USD cross has continued to get hammered on a short-term basis after the dovish commentary by the Reserve Bank of New Zealand’s Governor Wheeler. The NZD/USD easily broke below the short-term support level at 0.7950 and is now rapidly approaching the projected downside target at 0.7892. Now, with Governor Wheeler’s comments in the rear view mirror, traders will be looking to US data and news flow for directional guidance for the rest of the week.
Technical outlook for NZD/USD
Technicians now think a top has been put in for NZD/USD at 0.8162. They now say NZD/USD could be headed down to 0.7294 eventually. Short-term support, as noted above, comes into play at the projected low at 0.7892.