3 Feb 2014
NZD/USD rises above 0.8100 erly in Asia
FXstreet.com (Córdoba) - The NZD/USD started the week on a positive tone and is rising, recovering ground after Friday’s sell off. Recently reached a fresh daily high at 0.8121, level located more than 50 pips above Friday’s lows.
NZD/USD technical outlook
Despite the recovery the pair has been unable to rise back above 0.8120; area that until Friday was a key support, now acting as resistance. The outlook points to the downside in the short and medium term, particularly after ending the week below 0.8100.
To the upside immediate resistance lies at 0.8120/25 and above at 0.8180/85 (January 31 high). Support levels could be located at 0.8100 and below at 0.8060 (January 31 low), 0.8050 (July 26 low, August 9 high) and 0.8015 (July 23, 22 high).
NZD/USD technical outlook
Despite the recovery the pair has been unable to rise back above 0.8120; area that until Friday was a key support, now acting as resistance. The outlook points to the downside in the short and medium term, particularly after ending the week below 0.8100.
To the upside immediate resistance lies at 0.8120/25 and above at 0.8180/85 (January 31 high). Support levels could be located at 0.8100 and below at 0.8060 (January 31 low), 0.8050 (July 26 low, August 9 high) and 0.8015 (July 23, 22 high).