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18 Oct 2013
NZD/USD off modestly after Thursday’s rally tests next Fibo target at 0.8485
FXstreet.com (Barcelona) - The NZD/USD hit the next (second) possible upside target at 0.8485 and has backed off gently late Thursday and early on Friday.
NZD/USD traders to focus on technicals and Fed Head speeches Friday
NZD/USD traders will be monitoring the words and tone of four separate Fed Heads throughout the US session on Friday as there is no meaningful data due out of either New Zealand or the US. Also, as is always the case when there is a low / no data day, they will be focusing on technicals for guidance.
Technical outlook for NZD/USD
Technicians say NZD/USD tested the second of two possible Fibonacci-generated price targets at 0.8485 Thursday. Support for NZD/USD should come in at 0.8400, but additional buying interest should come in at the 10/4 peak of 0.8350.
NZD/USD traders to focus on technicals and Fed Head speeches Friday
NZD/USD traders will be monitoring the words and tone of four separate Fed Heads throughout the US session on Friday as there is no meaningful data due out of either New Zealand or the US. Also, as is always the case when there is a low / no data day, they will be focusing on technicals for guidance.
Technical outlook for NZD/USD
Technicians say NZD/USD tested the second of two possible Fibonacci-generated price targets at 0.8485 Thursday. Support for NZD/USD should come in at 0.8400, but additional buying interest should come in at the 10/4 peak of 0.8350.