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3 Jul 2014
NZD/USD rebounds and rises to 0.8760
FXStreet (Córdoba) - The NZD/USD bottomed at 0.8716 after the release of the employment report in the US , reaching the lowest price in a week. After Wall Street opening bell the pair gained momentum and rebound sharply rising above 0.8750.
The recovery from the lows found resistance at 0.8760 and from there pulled back to the 0.8750 area, where currently trades, down 0.25% for the day so far.
NZD/USD technical outlook
The pair continues to moved sideways after approaching 0.8800 last week. It was unable to break higher and lost upside momentum. The main trend continues to favor the upside. But to the downside, bearish corrections has been limited, with support at 0.8715 and 0.8745.
The recovery from the lows found resistance at 0.8760 and from there pulled back to the 0.8750 area, where currently trades, down 0.25% for the day so far.
NZD/USD technical outlook
The pair continues to moved sideways after approaching 0.8800 last week. It was unable to break higher and lost upside momentum. The main trend continues to favor the upside. But to the downside, bearish corrections has been limited, with support at 0.8715 and 0.8745.