Forex: NZD/USD falls below 0.8100 mark

FXstreet.com (Barcelona) - The kiwi has been roiled today as investors seek refuge in the traditional currency stalwarts in favor of riskier options during European trading. The NZDUSD has recently fallen below the 0.8100 mark, having operated between the 41-pip range of 0.8083 and 0.8124 Friday.

According to Anantharajan. P, CMT, a technical strategist at Precise Trader, "The NZDUSD's corrective downtrend started from 0.8845 (Aug'11 high) appears to be unfolding in a multi-month triangle pattern. The corrective recovery from 0.7455 (June low) has the potential to test the 0.8240/0.8320 resistance ahead of 0.8475. A break below 0.7990/0.7800 would renew the bear trend toward 0.7455 however."

Presently speaking, the pair is operating in the region of 0.8096, marking a staunch depreciation of -0.27%. The technical analyst team at Mataf.net points to supportive structures at 0.8093, then 0.8069, and finally 0.8040. A breach of 0.8146 will initiate additional resistance levels at 0.8175 and 0.8199.