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26 Feb 2014
NZD/USD falls toward 0.8300
FXStreet (Córdoba) - The NZD/USD failed to sustain intraday gains and turned negative at the beginning of the New York session as risk sentiment deteriorated.
The NZD/USD had peaked at 0.8344 on the back of solid NZ construction data but came under pressure, falling all the way back toward 0.8300 in recent dealings. The kiwi however, has managed to hold above the psychological level and it is currently trading at the 0.8310 area, recording a 0.2% loss on the day. With a light US calendar ahead, the FX market could extend its consolidative phase with most pairs within its recent ranges.
NZD/USD technical levels
In terms of technical levels, the NZD/USD could find immediate supports at 0.8300 (psychological level), 0.8275 (100-day SMA) and 0.8259 (Feb 24 low). On the upside, resistances are seen at 0.8344 (Feb 26 & 25 highs), 0.8380 (Feb 18 high) and 0.8400 (psychological level).
The NZD/USD had peaked at 0.8344 on the back of solid NZ construction data but came under pressure, falling all the way back toward 0.8300 in recent dealings. The kiwi however, has managed to hold above the psychological level and it is currently trading at the 0.8310 area, recording a 0.2% loss on the day. With a light US calendar ahead, the FX market could extend its consolidative phase with most pairs within its recent ranges.
NZD/USD technical levels
In terms of technical levels, the NZD/USD could find immediate supports at 0.8300 (psychological level), 0.8275 (100-day SMA) and 0.8259 (Feb 24 low). On the upside, resistances are seen at 0.8344 (Feb 26 & 25 highs), 0.8380 (Feb 18 high) and 0.8400 (psychological level).