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18 Jul 2013
NZD/USD secures hold on 0.7900 level
FXstreet.com (New York) - The NZD/USD foreign exchange rate broke higher Thursday morning, one day removed from the Bernanke-induced fervor that weighed on the NZD.
At the time of writing, the NZD/USD has recovered the 0.7900 level during Asian trading, presently establishing a session high at 0.7921, up +0.14% thus far. Technically speaking, the NZD/USD recently moved above the 0.7900 level (55-day MA and 50-day SMA convergence) – on the ascension the pair faces additional levels of correction at 0.7936 (July 17 high), onto 0.7962 (July 11 high).
NZD/USD strategic bias
According to Mike Jones, an analyst at BNZ, “The key level to watch for in the NZD/USD is 0.7900 – a daily close above here would pave the way for a move back above 0.8000. Initial support is eyed at 0.7855, with deeper support at 0.7810.”
At the time of writing, the NZD/USD has recovered the 0.7900 level during Asian trading, presently establishing a session high at 0.7921, up +0.14% thus far. Technically speaking, the NZD/USD recently moved above the 0.7900 level (55-day MA and 50-day SMA convergence) – on the ascension the pair faces additional levels of correction at 0.7936 (July 17 high), onto 0.7962 (July 11 high).
NZD/USD strategic bias
According to Mike Jones, an analyst at BNZ, “The key level to watch for in the NZD/USD is 0.7900 – a daily close above here would pave the way for a move back above 0.8000. Initial support is eyed at 0.7855, with deeper support at 0.7810.”