Forex: NZD/USD in session highs
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - The kiwi dollar is prolonging its intraday upside against the greenback on Tuesday, ahead of the RBNZ monetary policy meeting due tomorrow night. Prior surveys expect the central bank to leave the refi rate unchanged at 2.50%.
Senior Technical Strategist J.Saettele at DailyFX comments "former trendline support continues to serve as resistance in NZDUSD. The divergence between the AUDUSD and NZDUSD that is common at turns occurred last week. The NZDUSD traded through recent highs while the AUDUSD did not. Near term, such conditions are suggestive of top and reversal. Bigger picture, the NZDUSD appears quite bullish as the decline from 0.8355 is in 3 waves (corrective) and the rally from 0.8052 is in 5 waves".
The pair is up 0.53% at 0.8255 at the moment with the next resistance levels at 0.8267 (high Nov.29) followed by 0.8274 (Upper Bollinger) and then 0.8309 (high Nov.7).
On the downside, a dip below 0.8204 (low Dec.4) would bring 0.8197 (daily cloud top) and finally 0.8182 (MA21d).
Senior Technical Strategist J.Saettele at DailyFX comments "former trendline support continues to serve as resistance in NZDUSD. The divergence between the AUDUSD and NZDUSD that is common at turns occurred last week. The NZDUSD traded through recent highs while the AUDUSD did not. Near term, such conditions are suggestive of top and reversal. Bigger picture, the NZDUSD appears quite bullish as the decline from 0.8355 is in 3 waves (corrective) and the rally from 0.8052 is in 5 waves".
The pair is up 0.53% at 0.8255 at the moment with the next resistance levels at 0.8267 (high Nov.29) followed by 0.8274 (Upper Bollinger) and then 0.8309 (high Nov.7).
On the downside, a dip below 0.8204 (low Dec.4) would bring 0.8197 (daily cloud top) and finally 0.8182 (MA21d).
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