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6 Jun 2014
NZD/USD sets sights on 0.8500 resistance
FXStreet (Moscow) - NZD/USD rebounded from the minor support of 0.8480 and now is getting ready for a new assault at 0.8500.
A breath of fresh air for Kiwi
NZD/USD bulls was on the rise. They even tried to break above 0.8500 pivot and set the intraday high at 0.8513 on Thursday as investors felt hungry for risky but profitable assets after ECB monetary policy decision. Kiwi keeps growing on Friday on the back on positive risk sentiments, but later during the day the market focus will shift onto the US Non-farm payroll. This report might cause a good deal of volatility and help the pair to settle above 0.8500 should the data come out weaker than expected. The downside intraday correction of NZD/USD is likely to be limited by 0.8450.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8493, and next resistance can be seen at 0.8499 (Daily Open), 0.8500 (Weekly High), 0.8504 (Daily High), 0.8511 (Weekly Classic PP) and 0.8514 (Yesterday's High).
Support below can be found at 0.8483 (Daily 100 SMA), 0.8481 (Daily Low), 0.8481 (Hourly 200 SMA), 0.8479 (Hourly 20 EMA) and 0.8477 (Daily Classic PP).
A breath of fresh air for Kiwi
NZD/USD bulls was on the rise. They even tried to break above 0.8500 pivot and set the intraday high at 0.8513 on Thursday as investors felt hungry for risky but profitable assets after ECB monetary policy decision. Kiwi keeps growing on Friday on the back on positive risk sentiments, but later during the day the market focus will shift onto the US Non-farm payroll. This report might cause a good deal of volatility and help the pair to settle above 0.8500 should the data come out weaker than expected. The downside intraday correction of NZD/USD is likely to be limited by 0.8450.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8493, and next resistance can be seen at 0.8499 (Daily Open), 0.8500 (Weekly High), 0.8504 (Daily High), 0.8511 (Weekly Classic PP) and 0.8514 (Yesterday's High).
Support below can be found at 0.8483 (Daily 100 SMA), 0.8481 (Daily Low), 0.8481 (Hourly 200 SMA), 0.8479 (Hourly 20 EMA) and 0.8477 (Daily Classic PP).