19 Nov 2013
NZD/USD on spot: 38.2% Fibo; retracing
FXstreet.com (Chicago) - NZD/USD trades around the 0.8320 front, 38.2% Fibo level (0.82/0.84) after retracing from the 0.84 session highs (2-week highs and double tops pattern with last November 6th highs).
Accumulating over 200 pips in losses so far this month, a double-tops pattern is evidenced after today’s retracement from session highs on US data publications and the greenback’s strengthening. On impressive rally across equity markets, the pair the dollar had it well and futures metals retraced considerably printing weekly lows.
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8328 oscillating between the supports aligned at 0.83 (November 11th lows), 0.8262 (November 11th highs) ahead of 0.82 (November 7th lows) and the resistances aligned at 0.8354 (November 13th highs), 0.8412 (November 7th highs) followed by 0.8444 (October 24th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.
Accumulating over 200 pips in losses so far this month, a double-tops pattern is evidenced after today’s retracement from session highs on US data publications and the greenback’s strengthening. On impressive rally across equity markets, the pair the dollar had it well and futures metals retraced considerably printing weekly lows.
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8328 oscillating between the supports aligned at 0.83 (November 11th lows), 0.8262 (November 11th highs) ahead of 0.82 (November 7th lows) and the resistances aligned at 0.8354 (November 13th highs), 0.8412 (November 7th highs) followed by 0.8444 (October 24th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.