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16 Aug 2013
NZD/USD maintains 3-week altitudes
FXstreet.com (Chicago) - NZD/USD pulverized three supports since Friday morning reaching 0.8100 zone and sustaining gains in the afternoon of the American trading session.
Price action indicates bullish pressure may have diminished as the pair failed to consolidate above 0.8111 resistance after breaking out limits at 0.8090 and 0.8077. At 0.8099, the pair oscillates between supports at 0.8090 (July 17th highs), 0.8077 (August 13th highs) and 0.8064 (August 15th lows) and resistances aligned at 0.8111 (June 14th highs), 0.8138 (May 20th lows) and 0.8160 (May 28th highs). The FXstreet.com trend index reports the pair as strongly bullish on one-hour timeframe analysis accumulating 0.43% daily gains and 0.90% weekly gains.
Minutes prior to the US stock market closing, the Dow is down 0.01%, the Nasdaq is back up at 0.14% and the S&P remains underground at -0.13%. Next week, New Zealand will publish its producer price indexes to start off the week and Kansas City hosts the Jackson Hole Symposium on Friday.
Price action indicates bullish pressure may have diminished as the pair failed to consolidate above 0.8111 resistance after breaking out limits at 0.8090 and 0.8077. At 0.8099, the pair oscillates between supports at 0.8090 (July 17th highs), 0.8077 (August 13th highs) and 0.8064 (August 15th lows) and resistances aligned at 0.8111 (June 14th highs), 0.8138 (May 20th lows) and 0.8160 (May 28th highs). The FXstreet.com trend index reports the pair as strongly bullish on one-hour timeframe analysis accumulating 0.43% daily gains and 0.90% weekly gains.
Minutes prior to the US stock market closing, the Dow is down 0.01%, the Nasdaq is back up at 0.14% and the S&P remains underground at -0.13%. Next week, New Zealand will publish its producer price indexes to start off the week and Kansas City hosts the Jackson Hole Symposium on Friday.