7 Nov 2013
NZD/USD capped at 0.8388
FXstreet.com (Chicago) - NZD/USD retraces from 0.8388 session highs losing almost 20 pips ahead of the US GDP data releases later today along job market results.
According to Jim Langlands from FXcharts “the Kiwi made it up to 0.8414 today after the strong employment data focused the markets thoughts on the possibility of a RBNZ rate hike early next year. In heading higher the Kiwi reached and took out the Fibo resistance at 0.8408 (61.8% of 0.8543/0.8191). If those levels can be regained, then we should be looking for a run up towards the 24 Oct high of 0.8442 and beyond there to 0.8460 (76.4%) and eventually to 0.8500.”
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8363, the pair oscillates between the supports aligned at 0.8355 (October 22nd lows), 0.8313 (November 4th highs) followed by 0.8270 (October 25th lows) and the resistances set at 0.84 (September 18th highs), 0.8444 (October 23rd highs) ahead of 0.8512 (October 18th highs).
According to Jim Langlands from FXcharts “the Kiwi made it up to 0.8414 today after the strong employment data focused the markets thoughts on the possibility of a RBNZ rate hike early next year. In heading higher the Kiwi reached and took out the Fibo resistance at 0.8408 (61.8% of 0.8543/0.8191). If those levels can be regained, then we should be looking for a run up towards the 24 Oct high of 0.8442 and beyond there to 0.8460 (76.4%) and eventually to 0.8500.”
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8363, the pair oscillates between the supports aligned at 0.8355 (October 22nd lows), 0.8313 (November 4th highs) followed by 0.8270 (October 25th lows) and the resistances set at 0.84 (September 18th highs), 0.8444 (October 23rd highs) ahead of 0.8512 (October 18th highs).