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17 Jul 2013
NZD/USD struggling below 0.7900
FXstreet.com (Barcelona) - The NZD/USD foreign exchange rate is last trading at 0.7879, off recent session and weekly highs at 0.7904, holding above Friday's highs at current levels.
NZD/USD choppy trading continues
“The Kiwi is higher, in line with the other currencies against the dollar, although in the bigger picture the choppy sideways trade continues,” said FX Charts analyst Jim Langlands, adding: “Further upside looks possible now that the oscillators have turned up and if 0.7900 can be overcome, then we may be able to head towards 0.7915 (minor Fibo resistance) and beyond that to the 11 July high at 0.7968 high.”
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at current levels as Friday's highs 0.7879, followed by July 04/05 highs at 0.7850/59, and Monday's highs at 0.7827. To the upside, closest resistance shows at recent session/weekly highs 0.7904, followed by June 03/18 lows at 0.7934/45, and Thursday's highs at 0.7970.
NZD/USD choppy trading continues
“The Kiwi is higher, in line with the other currencies against the dollar, although in the bigger picture the choppy sideways trade continues,” said FX Charts analyst Jim Langlands, adding: “Further upside looks possible now that the oscillators have turned up and if 0.7900 can be overcome, then we may be able to head towards 0.7915 (minor Fibo resistance) and beyond that to the 11 July high at 0.7968 high.”
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at current levels as Friday's highs 0.7879, followed by July 04/05 highs at 0.7850/59, and Monday's highs at 0.7827. To the upside, closest resistance shows at recent session/weekly highs 0.7904, followed by June 03/18 lows at 0.7934/45, and Thursday's highs at 0.7970.