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12 Jul 2013
NZD/USD unable to breach 0.7800
FXstreet.com (New York) - The NZD/USD foreign exchange rate has been unable to retest the 0.7800 level during US trading, still trading negatively Friday.
At the time of writing, the NZD/USD has is still incurring losses of -0.89%, settling at 0.7885. The Mataf.net analyst team calculates the next supports at 0.7737, ahead of 0.7649, and finally 0.7533.
NZD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The NZD/USD failed to maintain the bullish breakout yesterday, erasing all earlier gains, and settling back below 0.7860 horizontal resistance. Overall, the pair is fluctuating around the broken descending trend line, indicating it probably was a false breakout. Accordingly, we prefer to remain on the sidelines awaiting further clarity.”
At the time of writing, the NZD/USD has is still incurring losses of -0.89%, settling at 0.7885. The Mataf.net analyst team calculates the next supports at 0.7737, ahead of 0.7649, and finally 0.7533.
NZD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The NZD/USD failed to maintain the bullish breakout yesterday, erasing all earlier gains, and settling back below 0.7860 horizontal resistance. Overall, the pair is fluctuating around the broken descending trend line, indicating it probably was a false breakout. Accordingly, we prefer to remain on the sidelines awaiting further clarity.”