Forex: NZD/USD testing the 0.8300 level
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NZD/USD
FXstreet.com (Barcelona) - The NZDUSD jumped substantially overnight after learning of the US Electoral results and the RBNZ Financial Stability Report. Having breached the 0.8300 level earlier today (0.8311 intraday maximum), the pair has consolidated some of its gains and is testing the 0.8300 handle once again.
"We have a positive crossover attempt on the linear regression indicator 34 & 55 and that accompanies positive trading supported by the ascending channel. Moreover, we expect that trading above the main ascending support at 0.8185 will extend the bullishness, however the pair should breach the 0.8355 mark to further confirm the positivity and relinquish the negativity on the stochastic." Writes the technical analyst team at ICN.com.
In these moments the pair is securing an advance of +0.28% on the day. ICN.com analysts point to resistive means at 0.8310, followed by 0.8355, onto 0.8415. On the decent, a break below the 0.8255 level will trigger supportive correction at 0.8220 and 0.8200 (key psychological barrier).
"We have a positive crossover attempt on the linear regression indicator 34 & 55 and that accompanies positive trading supported by the ascending channel. Moreover, we expect that trading above the main ascending support at 0.8185 will extend the bullishness, however the pair should breach the 0.8355 mark to further confirm the positivity and relinquish the negativity on the stochastic." Writes the technical analyst team at ICN.com.
In these moments the pair is securing an advance of +0.28% on the day. ICN.com analysts point to resistive means at 0.8310, followed by 0.8355, onto 0.8415. On the decent, a break below the 0.8255 level will trigger supportive correction at 0.8220 and 0.8200 (key psychological barrier).
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