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19 Jun 2013
NZD/USD trading at resistance
FXstreet.com (New York) - The NZD/USD foreign exchange rate rebounded to session highs, following an overnight trough that witnessed heavy selling action to start off the week.
NZD/USD overnight data fails to surprise
Overnight in New Zealand, the Current Account (QoQ) came in at $-0.660B in Q1, in line with consensus expectations, and compared with a figure of $-3.232B previously. Moreover, the Current Account – GDP ratio (Q1) fell -4.8%, matching estimates, and improving from a figure of -5.0% last quarter.
At the time of writing, the NZD/USD technical rate bounce off earlier lows (0.7960) overtake the 0.8000 barrier and settle at 0.8017. According to the Mataf.net analyst team, the pair will look to summit calculated resistance at 0.8015, then 0.8054, onto 0.8088. On the decline, a break below the 0.7942 handle will initiate support at 0.7908 and 0.7869.
NZD/USD solid support at 0.7920 offers room for uptrend
According to the ICN.com Technical Analyst Team, “The NZD/USD received solid support at 0.7920 as it withstood against all of the pair's bearish attempts, helping us propose an uptrend. Ultimately, the pair must settle above 0.8065 in order to confirm the uptrend's return.”
NZD/USD overnight data fails to surprise
Overnight in New Zealand, the Current Account (QoQ) came in at $-0.660B in Q1, in line with consensus expectations, and compared with a figure of $-3.232B previously. Moreover, the Current Account – GDP ratio (Q1) fell -4.8%, matching estimates, and improving from a figure of -5.0% last quarter.
At the time of writing, the NZD/USD technical rate bounce off earlier lows (0.7960) overtake the 0.8000 barrier and settle at 0.8017. According to the Mataf.net analyst team, the pair will look to summit calculated resistance at 0.8015, then 0.8054, onto 0.8088. On the decline, a break below the 0.7942 handle will initiate support at 0.7908 and 0.7869.
NZD/USD solid support at 0.7920 offers room for uptrend
According to the ICN.com Technical Analyst Team, “The NZD/USD received solid support at 0.7920 as it withstood against all of the pair's bearish attempts, helping us propose an uptrend. Ultimately, the pair must settle above 0.8065 in order to confirm the uptrend's return.”