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12 Jun 2013
NZD/USD upside stalled around 0.8030
FXstreet.com (Barcelona) - The NZD/USD is posting weekly gains so far, trimming recent losses although this bull run would be contemplated as corrective by the majority of analysts.
Bearish picture remains in NZD/USD
In the opinion of Ilya Spivak, Currency Strategist at DailyFX, “Prices found support at a trendline set from August 2010 at 0.7748 and rebounded, with the pair testing back above a recently broken trend line barrier established from June 2009 at 0.7903. A daily closing above this level targets downward-sloping resistance at 0.8062. Positive RSI divergence continues to underscore bullish reversal risk”.
NZD/USD support/resistance levels
At the moment, the pair is up 1.32% at 0.7978 with the next support at 0.7924 (high Jun.10) and then 0.7865 (low Jun.12). On the other hand, a break above 0.8025 (high Jun.12) would bring 0.8055 (MA21d).
Bearish picture remains in NZD/USD
In the opinion of Ilya Spivak, Currency Strategist at DailyFX, “Prices found support at a trendline set from August 2010 at 0.7748 and rebounded, with the pair testing back above a recently broken trend line barrier established from June 2009 at 0.7903. A daily closing above this level targets downward-sloping resistance at 0.8062. Positive RSI divergence continues to underscore bullish reversal risk”.
NZD/USD support/resistance levels
At the moment, the pair is up 1.32% at 0.7978 with the next support at 0.7924 (high Jun.10) and then 0.7865 (low Jun.12). On the other hand, a break above 0.8025 (high Jun.12) would bring 0.8055 (MA21d).