12 Nov 2013
NZD/USD consolidating bounce from 0.8199 session lows
FXstreet.com (Chicago) - NZD/USD attempts to get out session lows reaching the 0.8220 zone after previous fall below the 0.82 front.
With no data released today so far in New Zealand, market participants were mostly expectant of data releases in the US where results were mixed ahead of Yellen’s and Bernanke’s speeches later this week. Around 20:00 GMT, the RBNZ financial stability report is due.
NZD/USD Technical Levels
Price action reveals the extension of a gradual bearish channel that started last November 6th highs. The pair attempted to break through the 0.8250 zone but was stopped around the 0.8263 front. Offered at 0.8219, the pair oscillates between the supports aligned at 0.82 (October 31st lows), 0.8140 (August 18th highs) ahead of 0.81 (August 13th highs) and the resistances set at 0.8270 (October 6th lows), 0.8313 (October 31st highs) followed by 0.8255 (October 11th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis navigating below the EMA20.
With no data released today so far in New Zealand, market participants were mostly expectant of data releases in the US where results were mixed ahead of Yellen’s and Bernanke’s speeches later this week. Around 20:00 GMT, the RBNZ financial stability report is due.
NZD/USD Technical Levels
Price action reveals the extension of a gradual bearish channel that started last November 6th highs. The pair attempted to break through the 0.8250 zone but was stopped around the 0.8263 front. Offered at 0.8219, the pair oscillates between the supports aligned at 0.82 (October 31st lows), 0.8140 (August 18th highs) ahead of 0.81 (August 13th highs) and the resistances set at 0.8270 (October 6th lows), 0.8313 (October 31st highs) followed by 0.8255 (October 11th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis navigating below the EMA20.