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22 May 2013
NZD/USD finding resistance below 0.8200
FXstreet.com (Barcelona) - NZD/USD is last at 0.8170, about flat for the session being, and from previous Asia-Pacific open yesterday. In between though, the pair has moved in a wide range with lows at 0.8116 in early NY, and fresh weekly highs at 0.8213 by early London.
The pair is up a generous +1.29% for the week so far, ahead of later on Fed Bernanke's key testimony at 14:00 GMT, and Australian Westpac consumer sentiment at earlier 00:30 GMT which could add volatility to the AUD/NZD cross. According to IFR Markets analyst Richard Sexton, even though Kiwi might still bounce a little bit more, recent bearish trend should not take long to resume.
Immediate resistance to the upside for NZD/USD show at yesterday's Asian session highs 0.8193, followed by London session weekly highs at 0.8213, while closest support to the downside lies at yesterday's lows 0.8117, followed by Monday's/Friday's lows at 0.8060.
The pair is up a generous +1.29% for the week so far, ahead of later on Fed Bernanke's key testimony at 14:00 GMT, and Australian Westpac consumer sentiment at earlier 00:30 GMT which could add volatility to the AUD/NZD cross. According to IFR Markets analyst Richard Sexton, even though Kiwi might still bounce a little bit more, recent bearish trend should not take long to resume.
Immediate resistance to the upside for NZD/USD show at yesterday's Asian session highs 0.8193, followed by London session weekly highs at 0.8213, while closest support to the downside lies at yesterday's lows 0.8117, followed by Monday's/Friday's lows at 0.8060.