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7 Jan 2015
NZD/USD supply meets start of year positive risk sentiment
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7756 having scored a high at 0.7778 and a low at 0.7753, down 0.15% on the day so far.
NZD/USD has started to come off post the decent climb out of the bears layer when the pair closed the bearish gap that put a low at 0.7620. However, the bulls then yielded approximately 2 cents on the rally that extended over the last number of opening trading sessions for the year.
With 0.7700 acting as the first critical resistance level, when this gave way it allowed the bulls territory all the way through to and beyond the 0.7800 with a high scored at 0.7810. With such a performance, gravity comes into play and supply takes the pair back into neutral territory here and post a positive display of risk sentiment in early 2015 markets.
NZD/USD has started to come off post the decent climb out of the bears layer when the pair closed the bearish gap that put a low at 0.7620. However, the bulls then yielded approximately 2 cents on the rally that extended over the last number of opening trading sessions for the year.
With 0.7700 acting as the first critical resistance level, when this gave way it allowed the bulls territory all the way through to and beyond the 0.7800 with a high scored at 0.7810. With such a performance, gravity comes into play and supply takes the pair back into neutral territory here and post a positive display of risk sentiment in early 2015 markets.