Forex: NZD/USD limited below key Fibo around 0.82

FXstreet.com (Barcelona) - NZDUSD is currently at 0.8186, higher by +0.66% on the week, helped on improving risk appetite, ahead of later on Eurogroup meeting, where some kind of agreement on next aid tranche for Greece is expected to be announced. Local share markets also show a positive view following biggest daily rally on US SP500 in last 2 months, according to Bloomberg, up +1.99% on the day, with only Nikkei index slightly in the red down by -0.05% at the moment.

The pair keeps the upside limited below 61.8% Fibo retrace of latest down leg 0.8309/0.8051 at 0.8210, also Nov 14 highs, with recent session and weekly highs at 0.8203, when Moody's released its downgrade on France's government bonds, which made the Kiwi to dip to recent session lows at 0.8171. NZDUSD has this way almost erased all losses followed much worse than expected NZ retail sales past Wednesday the 14th.

Immediate resistance to the upside for NZDUSD shows at recent session/week/Nov 13 highs/61.8% of 0.8309/0.8051 at 0.8203/10, followed by Nov 05/07 lows at 0.8229/37, and Nov 02 highs at 0.8288. To the downside, nearest term support lies at Oct 25 lows 0.8154, followed by Nov 09 lows at 0.8123, and Oct 23 lows at 0.8100.