NZD/USD hits 0.83 ceiling before retracing

FXstreet.com (Chicago) – NZD/USD reached 0.8303 weekly highs but retraced below the 0.83 zone immediately ahead of Tokyo’s opening and after the release of a US budget lower than expected. On other fronts, Yellen was rather dovish on public speech stating the economy still has improvements to be made before any tapering.

NZD/USD Technical Levels

Technically speaking, the pair is offered at 0.8285 and oscillates between the supports aligned at 0.8270 (October 29th highs), 0.82 (October 30th lows) ahead of 0.8140 (August 16th highs) and the resistances aligned at 0.8313 (November 4th highs), 0.8355 (November 7th lows) followed by 0.8410 (November 6th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis navigating above the EMA20.