3 Jul 2013
NZD/USD unable to retest previous highs
FXstreet.com (New York) - The NZD/USD technical pair has once again moved towards the upside, maintaining its grasp on positive territory Wednesday.
NZD/USD trading below highs
At the time of writing, the NZD/USD has edged higher to the 0.7757 level, still below its earlier highs at 0.7782. Presently however, the pair is notching a +0.07% advance, during US trading. The Mataf.net analyst team has identified the next short-term measures of resistance at 0.7799, then 0.7851, and 0.7882. Alternatively, support lies below at 0.7716, then 0.7685, and ultimately 0.7633.
NZD/USD break below 0.7700 will exacerbate losses
According to the Technical Analyst Team at ICN.com, “The NZD/USD failed at the descending resistance for the falling wedge pattern, attempting to resume the overall bearish trend. However, the pair faces the recent lows that formed a support around 0.7700 area, a break below this support should clear the way for further losses.”
NZD/USD trading below highs
At the time of writing, the NZD/USD has edged higher to the 0.7757 level, still below its earlier highs at 0.7782. Presently however, the pair is notching a +0.07% advance, during US trading. The Mataf.net analyst team has identified the next short-term measures of resistance at 0.7799, then 0.7851, and 0.7882. Alternatively, support lies below at 0.7716, then 0.7685, and ultimately 0.7633.
NZD/USD break below 0.7700 will exacerbate losses
According to the Technical Analyst Team at ICN.com, “The NZD/USD failed at the descending resistance for the falling wedge pattern, attempting to resume the overall bearish trend. However, the pair faces the recent lows that formed a support around 0.7700 area, a break below this support should clear the way for further losses.”