8 May 2014
NZD/USD holds above 10-day SMA
FXStreet (Córdoba) - The pullback of the NZD/USD from multi-year highs found support at the 0.8635 zone Thursday, confining the pair to a phase of consolidation.
The NZD/USD reached a nearly 3-year high of 0.8778 Tuesday amid broad USD weakness, but RBNZ Wheeler jawboning put the Kiwi under pressure afterward. However, the pair has managed to hold above the 10-day SMA and it is currently trading at 0.8665, little changed on the day.
NZD/USD technical levels
In terms of technical levels, to the downside, immediate supports are seen at 0.8631 (10-day SMA), 0.8590 (May 2 low) and 0.8578 (50-day SMA). To the upside, resistances could be found at 0.8778 (2014 high May 6) and 0.8782 (Aug 2 2011 high) ahead of 0.8800 (psychological level).
The NZD/USD reached a nearly 3-year high of 0.8778 Tuesday amid broad USD weakness, but RBNZ Wheeler jawboning put the Kiwi under pressure afterward. However, the pair has managed to hold above the 10-day SMA and it is currently trading at 0.8665, little changed on the day.
NZD/USD technical levels
In terms of technical levels, to the downside, immediate supports are seen at 0.8631 (10-day SMA), 0.8590 (May 2 low) and 0.8578 (50-day SMA). To the upside, resistances could be found at 0.8778 (2014 high May 6) and 0.8782 (Aug 2 2011 high) ahead of 0.8800 (psychological level).