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30 Sep 2013
NZD/USD stops half-way to losses recovery; stuck at 0.8260
FXstreet.com (Chicago) - NZD/USD opened the week on bearish gap falling below the 0.8270 zone despite improved building permits results released in New Zealand.
NZD/USD Technical Levels
Price action reveals bearish pressure counter attacked by bullish willingness to push the pair higher despite negative gap at opening. After breaking the upward tredline that started last August 29th 10 days ago, the pair made it above the 0.83 once last week but failed to resist to bearish pressure. Ahead of the RBNZ business confidence results and recently published building permits at 1.54% vs. past -0.80%, the pair is offered at 0.8260 and navigates between supports aligned at 0.8246 (September 17th highs), 0.82 (September 18th lows) ahead of 0.8156 (September 16th lows) and the resistances set at 0.8319 (session highs), 0.8348 (September 19th lows) followed by 0.84 (September 20th highs).
NZD/USD Technical Levels
Price action reveals bearish pressure counter attacked by bullish willingness to push the pair higher despite negative gap at opening. After breaking the upward tredline that started last August 29th 10 days ago, the pair made it above the 0.83 once last week but failed to resist to bearish pressure. Ahead of the RBNZ business confidence results and recently published building permits at 1.54% vs. past -0.80%, the pair is offered at 0.8260 and navigates between supports aligned at 0.8246 (September 17th highs), 0.82 (September 18th lows) ahead of 0.8156 (September 16th lows) and the resistances set at 0.8319 (session highs), 0.8348 (September 19th lows) followed by 0.84 (September 20th highs).