Forex: NZD/USD range bound around 0.8350, above 38.2% Fibo
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NZD/USD
FXstreet.com (San Francisco) - The NZDUSD is consolidating overnight losses with a negative bias this Friday in Asia, last at 0.8350 ahead of the European opening as spot trades a 0.8338-0.8380 range intraday.
The New Zealand dollar closed 0.5% lower against the greenback Thursday after the NZ CPI report for Q4 reportedly missed estimates, and as NZD tracked AUD weakness following disappointing jobs data in Oz.
Price currently trades above 38.2% retracement support at 0.8340 (0.8153/0.8458 advance) and above the 21-day EMA (today at 0.8348), with further support noted at 0.8317 (overnight support), 0.8305 (50% Fibo; Nov 7 high) and 0.8266 (Nov 29 high). Next resistance lies at 0.8390 (Jan 2 high), then 0.8425 (Feb 20 high) and 0.8470 (Feb 29 high).
The New Zealand dollar closed 0.5% lower against the greenback Thursday after the NZ CPI report for Q4 reportedly missed estimates, and as NZD tracked AUD weakness following disappointing jobs data in Oz.
Price currently trades above 38.2% retracement support at 0.8340 (0.8153/0.8458 advance) and above the 21-day EMA (today at 0.8348), with further support noted at 0.8317 (overnight support), 0.8305 (50% Fibo; Nov 7 high) and 0.8266 (Nov 29 high). Next resistance lies at 0.8390 (Jan 2 high), then 0.8425 (Feb 20 high) and 0.8470 (Feb 29 high).
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