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20 May 2013
NZD/USD trading near session highs at 0.8122/29
FXstreet.com (Barcelona) - The kiwi has rebounded off of last week’s uneven performance, a weakness that took the cross below the 0.8100 level for the first time since mid November 2012.
In these moments, the pair is now trading at 0.8122/29, operating at session highs at +0.43% Monday. According to the Mataf.net technical analyst team, per a further rise in the NZD/USD, the cross will encounter its next short-term resistances at 0.8142, followed by 0.8200, and 0.8243. Conversely, the pair is set to face calculated support at 0.8041, then 0.7998, and ultimately 0.7940.
“The NZD/USD is extending its bearishness after the breakout below 0.8100 and stability below this level will extend the downside move to initially test 0.8025 followed by the psychological 0.8000. We lend our view initially on the breakout of the medium-term ascending channel in our bearish expectations ignoring the oversold signals on momentum indicators as the pair holds below 0.8100.” notes the ICN.com Technical Analyst team.
In these moments, the pair is now trading at 0.8122/29, operating at session highs at +0.43% Monday. According to the Mataf.net technical analyst team, per a further rise in the NZD/USD, the cross will encounter its next short-term resistances at 0.8142, followed by 0.8200, and 0.8243. Conversely, the pair is set to face calculated support at 0.8041, then 0.7998, and ultimately 0.7940.
“The NZD/USD is extending its bearishness after the breakout below 0.8100 and stability below this level will extend the downside move to initially test 0.8025 followed by the psychological 0.8000. We lend our view initially on the breakout of the medium-term ascending channel in our bearish expectations ignoring the oversold signals on momentum indicators as the pair holds below 0.8100.” notes the ICN.com Technical Analyst team.