11 Jul 2014
NZD/USD is determined to stay above 0.88
FXStreet (Moscow) - NZD/USD is sidelined with light bullish momentum as the pair opened at 0.8809 and reached the current Asian high at 0.8820.
Nicely settled above 0.88
NZD/USD finished the series of positive daily closes on Thursday, as the pair opened at 0.8824 and ended the day at 0.8809. The fact that it is still above the pivotal level of 0.8800 is regarded as mildly positive for kiwi bulls, though, we need a weekly close above this are to confirm this view. As no market moving data is scheduled for today, NZD/USD is likely to consolidate within its recent range where 0.8800 is seen as a key suooirt, while the upside might be limited by Thursday’s high at 0.8835.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8813, and next resistance can be seen at 0.8814 (Hourly 20 EMA), 0.8818 (Daily Classic PP), 0.8822 (Daily Open), 0.8823 (Daily High) and 0.8823 (Monthly High).
Next support to the downside can be found at 0.8803 (Daily Low), 0.8797 (Daily Classic S1), 0.8793 (Yesterday's Low), 0.8786 (Hourly 100 SMA) and 0.8784 (Weekly Classic R1).
Nicely settled above 0.88
NZD/USD finished the series of positive daily closes on Thursday, as the pair opened at 0.8824 and ended the day at 0.8809. The fact that it is still above the pivotal level of 0.8800 is regarded as mildly positive for kiwi bulls, though, we need a weekly close above this are to confirm this view. As no market moving data is scheduled for today, NZD/USD is likely to consolidate within its recent range where 0.8800 is seen as a key suooirt, while the upside might be limited by Thursday’s high at 0.8835.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8813, and next resistance can be seen at 0.8814 (Hourly 20 EMA), 0.8818 (Daily Classic PP), 0.8822 (Daily Open), 0.8823 (Daily High) and 0.8823 (Monthly High).
Next support to the downside can be found at 0.8803 (Daily Low), 0.8797 (Daily Classic S1), 0.8793 (Yesterday's Low), 0.8786 (Hourly 100 SMA) and 0.8784 (Weekly Classic R1).