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Trading news
1 Apr 2013
Forex: NZD/USD sideways trading at 0.8365/68
FXstreet.com (Barcelona) - The NZD/USD has engaged in sideways trading Monday during a heavily muted session. Having moved in a narrow 26-pip range (0.8352 – 0.8378), the cross is now settling in the 0.8365/68 region, recording marginal gains in these moments.
Briefing the technicals, ICN.com analysts identify corrective measures of resistance at 0.8385, then 0.8400, and finally the 0.8415 handle. Conversely, supports for the NZD/USD will initiate at 0.8310 onto 0.8275 and ultimately 0.8225.
According to the ICN.com Technical Analyst Team, “The uptrend that has themed the NZD/USDs trading so far has been a retest to an earlier broken support of a bullish channel. It could very well mark the end of bullishness, when especially the stochastic applies negative momentum upon the pair as well. Therefore, we prefer to exercise neutrality.”
Briefing the technicals, ICN.com analysts identify corrective measures of resistance at 0.8385, then 0.8400, and finally the 0.8415 handle. Conversely, supports for the NZD/USD will initiate at 0.8310 onto 0.8275 and ultimately 0.8225.
According to the ICN.com Technical Analyst Team, “The uptrend that has themed the NZD/USDs trading so far has been a retest to an earlier broken support of a bullish channel. It could very well mark the end of bullishness, when especially the stochastic applies negative momentum upon the pair as well. Therefore, we prefer to exercise neutrality.”