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2 Oct 2013
NZD/USD crushing supports for 0.8243 record lows
FXstreet.com (Chicago) - NZD/USD plunged shortly after the opening of Tokyo ahead of Australian data with possible effects on the kiwi.
NZD/USD Expert’s view and Technical Levels
Jim Langlands from FXcharts states “The Kiwi has had a tough session, under pressure from heavy buying of AUD/NZD after the RBA left rates on hold. The price action in the cross has seen the Kiwi trade back down below 0.8300, breaking the rising trend support in doing so, and hitting a session low of 0.8246.” He adds “The points to watch are at 0.8300 and at the session high at 0.8342. Above here would take us back to the previous session high at 0.8380 and possibly to 0.8435 (19 Sept high). On the downside, the Kiwi is currently sitting on Fibo support at 0.8270. A break would head to the session low at 0.8246 and then towards 0.8215 (25 Sept low) and possibly towards the 200 DMA at 0.8175 and possibly to 0.8160 (38.2% of 0.7718/0.8435).” The pair is offered at 0.8249 and trades below the EMA20.
NZD/USD Expert’s view and Technical Levels
Jim Langlands from FXcharts states “The Kiwi has had a tough session, under pressure from heavy buying of AUD/NZD after the RBA left rates on hold. The price action in the cross has seen the Kiwi trade back down below 0.8300, breaking the rising trend support in doing so, and hitting a session low of 0.8246.” He adds “The points to watch are at 0.8300 and at the session high at 0.8342. Above here would take us back to the previous session high at 0.8380 and possibly to 0.8435 (19 Sept high). On the downside, the Kiwi is currently sitting on Fibo support at 0.8270. A break would head to the session low at 0.8246 and then towards 0.8215 (25 Sept low) and possibly towards the 200 DMA at 0.8175 and possibly to 0.8160 (38.2% of 0.7718/0.8435).” The pair is offered at 0.8249 and trades below the EMA20.