NZD/USD trading negatively ahead of ECB meeting

FXstreet.com (Barcelona) - The pair has jumped recently during European trading, rebounding from the minimum recorded at 0.8011 earlier today during the Asian session. In the absence of important economic data or news from the New Zealand economy on Thursday, investors remain reticent to take new positions ahead the ECB's decision.

According to the technical analysts ICN.com, "We might see the pair move to the upside today, yet we should take note of the negativity on momentum indicators where a breach of 0.7985 will limit the positive outlook and maybe negate the intraday bullishness."

Ahead of the ECB decision later today, the cross is presently trading in the region of 0.8027, declining at a rate of -0.09%. According to the technical analysts at ICN.com, the pair will encounter short-term supports 0.8015, 0.7905, and finally. 0.7985. On the upsode, the pairs advance will be stymied by resistances at 0.8080, 0.8135 and then 0.8160.