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21 Oct 2014
NZD/USD retreats from 3-week highs
FXStreet (Córdoba) -
The kiwi is rising modestly against the US dollar on Tuesday and continues to hold a bullish tone in the short term. During the Asian session NZD/USD rose to 0.8032, reaching the strongest level since September 25 but then pulled back.
NZD/USD levels to watch
The pair failed to hold above 0.8000 and retreated below. Currently trades at 0.7985, slightly higher for the day. The decline from the highs found support so far at 0.7975, that is the first support level to consider; below the next comes at 0.7950/52 (daily low) and 0.7928 (Monday’s European session low).
On the upside, the pair needs to consolidate above 0.8000 to gain momentum, then resistance might lie at 0.8030/35 daily high) and above here at 0.8070 (Sep 18 low).
The kiwi is rising modestly against the US dollar on Tuesday and continues to hold a bullish tone in the short term. During the Asian session NZD/USD rose to 0.8032, reaching the strongest level since September 25 but then pulled back.
NZD/USD levels to watch
The pair failed to hold above 0.8000 and retreated below. Currently trades at 0.7985, slightly higher for the day. The decline from the highs found support so far at 0.7975, that is the first support level to consider; below the next comes at 0.7950/52 (daily low) and 0.7928 (Monday’s European session low).
On the upside, the pair needs to consolidate above 0.8000 to gain momentum, then resistance might lie at 0.8030/35 daily high) and above here at 0.8070 (Sep 18 low).