Back
19 Aug 2013
NZD/USD, reversal consolidation failed; kiwi squeezed down
FXstreet.com (Chicago) - NZD/USD failed to reverse as the pair was held by 0.0803 zone to trade at 0.8065, hedging lower on kiwi sell off.
Price action indicates the pair failed to consolidate on potential reversal as it dropped from 0.0830 highs to trade below 0.0870 zone. The pair is forging support at 0.8064 from where it has bounced off three times in the past hour. Ahead of RBNZ Governor Wheeler Speech at 2:00GMT, the kiwi continues weakening against a stronger greenback.
At 0.8160, the pair oscillates between supports at 0.8056 (intraday lows), 0.8036 (August 12th highs) ahead of 0.8014 (July 31st highs) and resistances aligned at 0.8100 (July 24th highs), 0.8125 (August 15th highs) followed by 0.8140 (June 14th highs). The FXstreet.com trend index maintains its slightly bearish reading on one-hour timeframe analysis with daily losses accounting for 0.37% so far.
Price action indicates the pair failed to consolidate on potential reversal as it dropped from 0.0830 highs to trade below 0.0870 zone. The pair is forging support at 0.8064 from where it has bounced off three times in the past hour. Ahead of RBNZ Governor Wheeler Speech at 2:00GMT, the kiwi continues weakening against a stronger greenback.
At 0.8160, the pair oscillates between supports at 0.8056 (intraday lows), 0.8036 (August 12th highs) ahead of 0.8014 (July 31st highs) and resistances aligned at 0.8100 (July 24th highs), 0.8125 (August 15th highs) followed by 0.8140 (June 14th highs). The FXstreet.com trend index maintains its slightly bearish reading on one-hour timeframe analysis with daily losses accounting for 0.37% so far.