7 Jul 2014
NZD/USD climbs above 0.8750
FXStreet (Córdoba) - The NZD/USD rose further after Wall Street opening bell and printed a fresh daily high at 0.8766, reaching the strongest level since last thursday. The US dollar recently reached a fresh low for the day across the baord and has erased previous gains. The kiwi is among the best performers on Monday and pushed the AUD/NZD back below 1.0700.
On Asian horus the NZD/USD fell to 0.8712, 1-week low but rebounded and since then it has risen more than 50 pips.
NZD/USD technical outlook
In the short term the pair is moving with a bullish bias and also on a wider perspective. Currently trades near a key resistance located around 0.8800, that capped the upside during the previous two weeks. A break higher could trigger another rally.
To the downside,the important short term support is located around 0.8705 - 0.8715; a break below could be the start of a bearish correction.
On Asian horus the NZD/USD fell to 0.8712, 1-week low but rebounded and since then it has risen more than 50 pips.
NZD/USD technical outlook
In the short term the pair is moving with a bullish bias and also on a wider perspective. Currently trades near a key resistance located around 0.8800, that capped the upside during the previous two weeks. A break higher could trigger another rally.
To the downside,the important short term support is located around 0.8705 - 0.8715; a break below could be the start of a bearish correction.