18 Nov 2013
NZD/USD opens with runaway gap; faces grounds…erasing gains?
FXstreet.com (Chicago) - NZD/USD falls after reaching 0.8355 session highs before the opening of Tokyo.
NZD/USD Technical Levels
A strong runaway gap evidences heavy buying with a following retracement from the 0.8355 resistance (now double tops pattern with November 13th highs). Technically speaking, the pair is offered at 0.8347 and oscillates between the supports aligned at 0.8313 (October 31st highs), 0.8270 (October 25th lows) followed by 0.82 (October 30th lows) and the resistances set at 0.8355 (November 14th highs), 0.8410 (November 7th highs) followed by 0.8446 (October 24th highs). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bullish and navigates above the EMA20.
NZD/USD Technical Levels
A strong runaway gap evidences heavy buying with a following retracement from the 0.8355 resistance (now double tops pattern with November 13th highs). Technically speaking, the pair is offered at 0.8347 and oscillates between the supports aligned at 0.8313 (October 31st highs), 0.8270 (October 25th lows) followed by 0.82 (October 30th lows) and the resistances set at 0.8355 (November 14th highs), 0.8410 (November 7th highs) followed by 0.8446 (October 24th highs). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bullish and navigates above the EMA20.