27 Jun 2013
NZD/USD recovering towards resistance
FXstreet.com (London) - NZD/USD hit 0.7861 resistances yesterday, but then dropped 90%. The pair are continuing to recover back towards the highs although offers could well be attracted at 0.7835 and Danske Bank recommends a short here.
The market reacted well to the ANZ Business survey overnight. TD Securities reserch team said that the survey underlines the broadbased momentum in the NZ economy, though it has yet to feed into higher inflation expectations.
NZD/USD currently remains in bullish territory
The NZD/USD pair is being supported at 0.7815/20 with indicators offering an upside bias short term. Sell Stops placed at 0.7900 could offer the impetus for any breaks through the figure to rally towards next resotance at 0.7947. On the downside, targets are 0.7753/19 and 0.7683.
The market reacted well to the ANZ Business survey overnight. TD Securities reserch team said that the survey underlines the broadbased momentum in the NZ economy, though it has yet to feed into higher inflation expectations.
NZD/USD currently remains in bullish territory
The NZD/USD pair is being supported at 0.7815/20 with indicators offering an upside bias short term. Sell Stops placed at 0.7900 could offer the impetus for any breaks through the figure to rally towards next resotance at 0.7947. On the downside, targets are 0.7753/19 and 0.7683.