23 Jul 2013
NZD/USD trading in the 0.7970 region
FXstreet.com (New York) - The NZD/USD foreign exchange rate managed to hold onto the majority of yesterdays gains during Asian trading this morning, easing slightly off its opening Tuesday.
NZD/USD event risk
The datawires are exceedingly scant this morning out of both Antipodean economies, though this is set to change later in the day, when New Zealand releases several trade statistics, including imports, exports, and the Trade Balance in June (22:45 GMT).
NZD/USD strategic bias
In these moments, the NZD/USD is still clinging to the 0.7968 region Tuesday, marginally increasing at a rate of +0.02%. Technically speaking, the pair will face calculated resistance at 0.7975 (July 22 high), onto 0.7984 (July 19 high), and 0.8018 (June 18 high).
According to the Technical Analyst Team at ICN.com, “After testing the key resistance at 0.7970 on Friday, the pair reversed to 0.7860-support level with the start of the week, however rebounded again higher. Overall, the bearish trend is still intact, and price may find a good resistance at 0.7670 and the 50-day SMA, where only a break above this resistance area will threaten for a bullish reversal.”
NZD/USD event risk
The datawires are exceedingly scant this morning out of both Antipodean economies, though this is set to change later in the day, when New Zealand releases several trade statistics, including imports, exports, and the Trade Balance in June (22:45 GMT).
NZD/USD strategic bias
In these moments, the NZD/USD is still clinging to the 0.7968 region Tuesday, marginally increasing at a rate of +0.02%. Technically speaking, the pair will face calculated resistance at 0.7975 (July 22 high), onto 0.7984 (July 19 high), and 0.8018 (June 18 high).
According to the Technical Analyst Team at ICN.com, “After testing the key resistance at 0.7970 on Friday, the pair reversed to 0.7860-support level with the start of the week, however rebounded again higher. Overall, the bearish trend is still intact, and price may find a good resistance at 0.7670 and the 50-day SMA, where only a break above this resistance area will threaten for a bullish reversal.”