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3 Jul 2014
NZD/USD feels it is safer at the opening levels
FXStreet (Moscow) - NZD/USD has recovered after a dip to Asian low of 0.8745 and keeps closer to the opening level of 0.8764.
Kiwi is at a loss
NZD/USD has been mainly rangebound for the fifth day in a row. Obviously, the bulls have lost their enthusiasm and bears are ready to snatch the initiative. Technically, we need to break below 0.8730 to secure the downside momentum. This may happen later today, if the USA publishes better than expected Non-Farm Payrolls report. The American economy is expected to have created about 213k jobs in June. Positive data will support the USD across the board and, consequently, push NZD/USD to the lower limit. The sustained break below the said level will open up the way to the key short-term support of 0.8700 where the bear might pause before a new assault.
What price levels and patterns have to be considered?
Resistance can be found ahead of spot at 0.8764 [Last Price], 0.8766 (Daily Classic PP), 0.8766 (Hourly 20 EMA), 0.8773 (Daily Open), 0.8777 (Yesterday's High) and 0.8779 (Daily High).
Support below can be found at 0.8764 (Hourly 100 SMA), 0.8754 (Daily Classic S1), 0.8747 (Yesterday's Low), 0.8746 (Daily Low) and 0.8744 (Weekly Classic PP).
Kiwi is at a loss
NZD/USD has been mainly rangebound for the fifth day in a row. Obviously, the bulls have lost their enthusiasm and bears are ready to snatch the initiative. Technically, we need to break below 0.8730 to secure the downside momentum. This may happen later today, if the USA publishes better than expected Non-Farm Payrolls report. The American economy is expected to have created about 213k jobs in June. Positive data will support the USD across the board and, consequently, push NZD/USD to the lower limit. The sustained break below the said level will open up the way to the key short-term support of 0.8700 where the bear might pause before a new assault.
What price levels and patterns have to be considered?
Resistance can be found ahead of spot at 0.8764 [Last Price], 0.8766 (Daily Classic PP), 0.8766 (Hourly 20 EMA), 0.8773 (Daily Open), 0.8777 (Yesterday's High) and 0.8779 (Daily High).
Support below can be found at 0.8764 (Hourly 100 SMA), 0.8754 (Daily Classic S1), 0.8747 (Yesterday's Low), 0.8746 (Daily Low) and 0.8744 (Weekly Classic PP).