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1 Oct 2013
NZD/USD gives in 0.83 zone
FXstreet.com (Chicago) - NZD/USD failed to resist bearish pressure after Obama’s speech setting congressional expectations for tonight’s deadline.
Obama lights a candle?
Ahead of the US budget spending deadline, price action remains similar to the one prior to Wall Street closing. The pair oscillates around the 0.8290 highs and gives in 0.83 front. Ahead of Chinese and American manufacturing data due later today affecting the pair, market participants may remain with feet on ground until the spending issue is not “fixed” with the greenback weakening if nothing happens and the shutdown is inevitable and a stronger dollar if the shutdown is prevented.
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8296 and oscillates between the supports aligned at 0.8270 (September 25th highs), 0.8245 (September 17th highs) ahead of 0.82 (September 18th lows) and the resistances set at 0.8319 (September 26th highs), 0.8350 (September 19th lows) followed by 0.8390 (September 23rd highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe and remains above the EMA20.
Obama lights a candle?
Ahead of the US budget spending deadline, price action remains similar to the one prior to Wall Street closing. The pair oscillates around the 0.8290 highs and gives in 0.83 front. Ahead of Chinese and American manufacturing data due later today affecting the pair, market participants may remain with feet on ground until the spending issue is not “fixed” with the greenback weakening if nothing happens and the shutdown is inevitable and a stronger dollar if the shutdown is prevented.
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8296 and oscillates between the supports aligned at 0.8270 (September 25th highs), 0.8245 (September 17th highs) ahead of 0.82 (September 18th lows) and the resistances set at 0.8319 (September 26th highs), 0.8350 (September 19th lows) followed by 0.8390 (September 23rd highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe and remains above the EMA20.