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28 Jan 2014
NZD/USD finds resistance at 0.8300 and retreats
FXstreet.com (Córdoba) - The NZD/USD finished Tuesday with gains for the second day in a row but closed around 0.8265, far from the highs. During the European session the pair extended daily gains and climbed to 0.8304, hitting the highest price since last Friday.
NZD/USD rejected from above 0.8300
The Kiwi rose monetarily on top of 0.8300 but failed to hold and quickly pulled back. The retracement from 0.8304 was capped by 0.8245. In the last hours of the American session the pair moved sideways with resistance at 0.8275 and support at 0.8250.
Above the mentioned short-term range, resistance levels could lie at 0.8305 (January 28 high) and 0.8340/45 (January 21, 22 highs). While under 0.8250, the next support levels is the area around 0.8200 that capped the downside earlier in the week.
NZD/USD rejected from above 0.8300
The Kiwi rose monetarily on top of 0.8300 but failed to hold and quickly pulled back. The retracement from 0.8304 was capped by 0.8245. In the last hours of the American session the pair moved sideways with resistance at 0.8275 and support at 0.8250.
Above the mentioned short-term range, resistance levels could lie at 0.8305 (January 28 high) and 0.8340/45 (January 21, 22 highs). While under 0.8250, the next support levels is the area around 0.8200 that capped the downside earlier in the week.