28 Oct 2013
NZD/USD forging grounds above 0.8280 on ND Labor Day
FXstreet.com (Chicago) - NZD/USD seems to find grounds around the 0.8280 zone after extending the bearish channel on the greenback’s strengthening towards the end of last week.
NZD/USD Technical Levels
Technically speaking the pair is bearish with primary and secondary trends pointing down and the extension of the bearish channel being a reality as seen in 4HR charts. The pair seems to find grounds with potential breakdowns towards the 0.82 zone. Offered at 0.8283, the pair navigates between the supports aligned at 0.8269 (October 7th lows), 0.8231 (October 10th lows) ahead of 0.8186 (October 2nd lows) and the resistances set at 0.83 (October 14th lows), 0.8335 (October 7th highs) followed by 0.8390 (October 16th lows). According to FXstreet.com, the pair trades below the EMA20 and is slightly bearish on one-hour timeframe analysis.
NZD/USD Technical Levels
Technically speaking the pair is bearish with primary and secondary trends pointing down and the extension of the bearish channel being a reality as seen in 4HR charts. The pair seems to find grounds with potential breakdowns towards the 0.82 zone. Offered at 0.8283, the pair navigates between the supports aligned at 0.8269 (October 7th lows), 0.8231 (October 10th lows) ahead of 0.8186 (October 2nd lows) and the resistances set at 0.83 (October 14th lows), 0.8335 (October 7th highs) followed by 0.8390 (October 16th lows). According to FXstreet.com, the pair trades below the EMA20 and is slightly bearish on one-hour timeframe analysis.