Filed Under:
Forex pairs in this Article » EUR/USD (Bali) - NZD/USD has given back yesterday's gains after the Kiwi was dragged sharply lower by sales in AUD/USD on disappointing Australian GDP.

From an ichimoku perspective, the NZD/USD remains confined in neutral territory with the price stuck in the middle of the daily cloud. However, today's rejection off 0.8240 came at the retest of a critical Kijun daily line and keeps the pressure to the downside again, after bulls were disallowed a recovery above 0.8240/50, a much needed breakout to upgrade the technical picture in the short term.

On the downside, after breaking through 0.8225 support, price has stalled at the Tenkan daily line circa 0.8190/95. According to Jim Langlands, Founder at FXCharts: "Below there would see a run down towards 200 DMA (0.8163) and the 100 DMA (0.81453)." On the upside, the aforementioned 0.8240/50 is key to be retaken.
comments powered by Disqus