25 Jun 2014
NZD/USD pressing the downside
FXStreet (Guatemala) - NZD/USD is trading at 0.8666, down -0.06% on the day, having posted a daily high at 0.8679 and low at 0.8661.
Matt Weller, analyst at Forex.com explained that in the near term, a pullback to the 23.6% or 38.2% Fibonacci retracements of the June rally, at .8661 and .8615 respectively, appears likely. “However, as long as support at the 50-day MA (currently at .8595) holds, the medium-term uptrend will remain intact and traders may look to buy the dip. Only a break below this area would shift the bias back to neutral”
NZD/USD Levels
Current price is 0.8668, with resistance ahead at 0.8669 (Yesterday's Low), 0.8672 (Daily Open), 0.8679 (Daily High), 0.8689 (Daily Classic S1)and 0.8690 (Hourly 20 EMA). Next support to the downside can be found at 0.8665 (Daily Classic S2), 0.8661 (Daily Low), 0.8657 (Weekly Low), 0.8647 (Weekly Classic S1) and 0.8635 (Daily Classic S3).
Matt Weller, analyst at Forex.com explained that in the near term, a pullback to the 23.6% or 38.2% Fibonacci retracements of the June rally, at .8661 and .8615 respectively, appears likely. “However, as long as support at the 50-day MA (currently at .8595) holds, the medium-term uptrend will remain intact and traders may look to buy the dip. Only a break below this area would shift the bias back to neutral”
NZD/USD Levels
Current price is 0.8668, with resistance ahead at 0.8669 (Yesterday's Low), 0.8672 (Daily Open), 0.8679 (Daily High), 0.8689 (Daily Classic S1)and 0.8690 (Hourly 20 EMA). Next support to the downside can be found at 0.8665 (Daily Classic S2), 0.8661 (Daily Low), 0.8657 (Weekly Low), 0.8647 (Weekly Classic S1) and 0.8635 (Daily Classic S3).