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1 Aug 2013
NZD/USD testing the 0.7900 level
FXstreet.com (New York) - The NZD/USD foreign exchange rate once rebounded off of yesterdays lows at 0.7853, paring its recent losses and moving back towards the 0.79000 barrier during Asian trading.
NZD/USD technical bias
Following the widespread gains of the USD yesterday, the NZD/USD felt itself under siege as it heads into Friday, still unable to stabilize thus far above 0.7900. In these moments, the NZD/USD has managed to test the 0.7896 level – technically speaking, supportive means will still activate for the pair at 0.7885 (July 19 low), ahead of 0.7856 (July 18 low), and 0.7847 July 17 low).
According to the Technical Analyst Team at ICN.com, “The NZD/USD is pushing towards the 50-days SMA and 0.7900 horizontal support, and as such we will continue to monitor price action at this level, prolonged stability below this region may confirm further downside.”
NZD/USD technical bias
Following the widespread gains of the USD yesterday, the NZD/USD felt itself under siege as it heads into Friday, still unable to stabilize thus far above 0.7900. In these moments, the NZD/USD has managed to test the 0.7896 level – technically speaking, supportive means will still activate for the pair at 0.7885 (July 19 low), ahead of 0.7856 (July 18 low), and 0.7847 July 17 low).
According to the Technical Analyst Team at ICN.com, “The NZD/USD is pushing towards the 50-days SMA and 0.7900 horizontal support, and as such we will continue to monitor price action at this level, prolonged stability below this region may confirm further downside.”