15 Jul 2014
NZD/USD slips below 0.8800
FXStreet (Córdoba) - The NZD/USD came under pressure at the beginning of the European trade as event risk of Yellen testimony weighs on risky assets.
The NZD/USD slid back below the 0.8800 psychological level and hit a low of 0.8783 before finding support. At time of writing, the pair is trading at the 0.8790 zone, down 0.11% on the day. Focus now turns to Fed Chair Yellen's testimony to potentially inspire trading activity.
The NZD/USD has been slowly retreating from a 3-year high scored last week at 0.8834, with the pair on track to record its fourth daily loss in a row.
NZD/USD technical levels
As for technical levels, the NZD/USD could find next supports at 0.8780 (10-day SMA), 0.8752 (21-day SMA) and 0.8736 (Jul 8 low). On the flip side, resistances are seen at 0.8834 (2014 high Jul 10), 0.8842 (Aug 1 2011 high) and 0.8900 (psychological level).
The NZD/USD slid back below the 0.8800 psychological level and hit a low of 0.8783 before finding support. At time of writing, the pair is trading at the 0.8790 zone, down 0.11% on the day. Focus now turns to Fed Chair Yellen's testimony to potentially inspire trading activity.
The NZD/USD has been slowly retreating from a 3-year high scored last week at 0.8834, with the pair on track to record its fourth daily loss in a row.
NZD/USD technical levels
As for technical levels, the NZD/USD could find next supports at 0.8780 (10-day SMA), 0.8752 (21-day SMA) and 0.8736 (Jul 8 low). On the flip side, resistances are seen at 0.8834 (2014 high Jul 10), 0.8842 (Aug 1 2011 high) and 0.8900 (psychological level).