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5 Jun 2013
NZD/USD testing the 0.8000 barrier
FXstreet.com (Barcelona) - The NZD/USD fell off overnight highs at 0.8062 Wednesday, plunging throughout European trading as well to record fresh lows.
During the overnight session, the ANZ Commodity Price index (May) came in at -1.6%, compared with a robust growth of +12.6% growth in April.
According to the ICN.com Technical Analyst Team, “The NZD/USD proved to be unstable below 0.8040 – linear regression indicator 55 is forming a tough resistance against the pair. We will maintain our negative outlook and expectation for a downtrend throughout Wednesday's session, unless the pair steadies above 0.8065.”
Amidst this pullback, the pair is now settling at 0.7994/98 in these moments, incurring a loss of -0.28%. Technically speaking, the Mataf.net analyst team points to support levels at 0.7958, ahead of 0.7901, and ultimately 0.7835. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 0.8081, then 0.8147, onto 0.8104.
During the overnight session, the ANZ Commodity Price index (May) came in at -1.6%, compared with a robust growth of +12.6% growth in April.
According to the ICN.com Technical Analyst Team, “The NZD/USD proved to be unstable below 0.8040 – linear regression indicator 55 is forming a tough resistance against the pair. We will maintain our negative outlook and expectation for a downtrend throughout Wednesday's session, unless the pair steadies above 0.8065.”
Amidst this pullback, the pair is now settling at 0.7994/98 in these moments, incurring a loss of -0.28%. Technically speaking, the Mataf.net analyst team points to support levels at 0.7958, ahead of 0.7901, and ultimately 0.7835. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 0.8081, then 0.8147, onto 0.8104.