Forex: NZD/USD consolidates to 0.8272
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - The kiwi has lost its swagger in afternoon trading as the NZDUSD has consolidated off of its session highs at 0.8296 after failing to overtake the 0.8300 mark. The movement has culminated in a 24-pip pullback, which places the cross in the region of 0.8272 at the time of writing. Despite the recent waning however, the pair is still trading in positive territory at +0.22% on the day.
According to the technical analyst team at ICN.com, "The pair is gradually trending higher, ignoring the stochastic that is approaching overbought areas and that is supported by the linear regression indicators and trading above the main support for the ascending channel."
After a failed attempt to breach the 0.8300 level, ICN.com analysts point to resistances at 0.8310, then 0.8355, and finally 0.8415. Conversely, a prolonged consolidation movement will result in supportive bastions at 0.8255, 0.8220, and 0.8200 (key psychological level).
According to the technical analyst team at ICN.com, "The pair is gradually trending higher, ignoring the stochastic that is approaching overbought areas and that is supported by the linear regression indicators and trading above the main support for the ascending channel."
After a failed attempt to breach the 0.8300 level, ICN.com analysts point to resistances at 0.8310, then 0.8355, and finally 0.8415. Conversely, a prolonged consolidation movement will result in supportive bastions at 0.8255, 0.8220, and 0.8200 (key psychological level).
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