2 Jun 2014
NZD/USD: Technicals still display a negative picture
FXStreet (Bali) - NZD/USD is trading around 0.85 round number but still a key ascending trendline broken last week, which has led to increase the downside risks short term.
Trading activity in the Kiwi this morning in Asia should be subdued as New Zealand markets are closed due to a public holiday - Queen's Birthday -.
Technically, Jim Langlands, Founder at FXCharts, notes: "The dailies look rather negative and are sitting right at the bottom of the daily cloud base. If this fails to hold, then I suspect we could eventually be in for another test of last week’s low at 0.8450 below which, it would head towards 0.8430 (minor) and then to 0.8400."
Trading activity in the Kiwi this morning in Asia should be subdued as New Zealand markets are closed due to a public holiday - Queen's Birthday -.
Technically, Jim Langlands, Founder at FXCharts, notes: "The dailies look rather negative and are sitting right at the bottom of the daily cloud base. If this fails to hold, then I suspect we could eventually be in for another test of last week’s low at 0.8450 below which, it would head towards 0.8430 (minor) and then to 0.8400."