17 Feb 2014
NZD/USD in small range, with support at 0.8350
FXStreet (Córdoba) - On a low volume session the NZD/USD finished slightly lower on Monday hovering around 0.8360. Since the European session the pair remains flat moving in a range with support at 0.8350 and resistance at 0.8370.
NZD/USD loses steam near 0.8400
During the Asian session the Kiwi continued the rally that started on Thursday against the US dollar and climbed to 0.8391, reaching the highest price in four weeks. The upside lost momentum near 0.8400 and pulled back, erasing daily gains to finished the day at 0.8360, 10 pips below Friday’s closing price. It was the first daily decline after rising in the previous four trading days.
The area around 0.8400 continues to be a key resistance. Since November every time the NZD/USD approached 0.8400 lost strength and retreated.
NZD/USD loses steam near 0.8400
During the Asian session the Kiwi continued the rally that started on Thursday against the US dollar and climbed to 0.8391, reaching the highest price in four weeks. The upside lost momentum near 0.8400 and pulled back, erasing daily gains to finished the day at 0.8360, 10 pips below Friday’s closing price. It was the first daily decline after rising in the previous four trading days.
The area around 0.8400 continues to be a key resistance. Since November every time the NZD/USD approached 0.8400 lost strength and retreated.