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26 Jun 2013
NZD/USD recording higher levels
FXstreet.com (London) - NZD/USD has completed two positive waves of higher highs and lows in Europe on the 5 - minute chart to hit a high of 0.7781 since overnight.
NZD/USD moving out of consolidated mode
NZD/USD had been consolidating along with the AUD/USD in quite an iritic price action between 0.7700-0.7800 since the drop after the FOMC from 0.8051. The pair had been suffering to Chinas woes, although Chinese equities and rates were moderate overnight and the panic appears to be over for now with the PBOC calming markets. We now await US GDP Q1 this afternoon.
NZD/USD bearish longer term
NZD/USD has been in a sideways formation this week, which could indicate a continuation of the bear trend will follow, as often a sideways consolidation is just a respite from the overall and broader direction. Long term Ma’s offer a bias to the downside and resistance comes in at 0.7800 still.
NZD/USD moving out of consolidated mode
NZD/USD had been consolidating along with the AUD/USD in quite an iritic price action between 0.7700-0.7800 since the drop after the FOMC from 0.8051. The pair had been suffering to Chinas woes, although Chinese equities and rates were moderate overnight and the panic appears to be over for now with the PBOC calming markets. We now await US GDP Q1 this afternoon.
NZD/USD bearish longer term
NZD/USD has been in a sideways formation this week, which could indicate a continuation of the bear trend will follow, as often a sideways consolidation is just a respite from the overall and broader direction. Long term Ma’s offer a bias to the downside and resistance comes in at 0.7800 still.