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25 Jun 2013
NZD/USD rebounds off of intraday lows
FXstreet.com (New York) - The NZD/USD technical pair bounced off its intraday lows (0.7697) during US trading, retracing its recent losses Tuesday.
NZD/USD bounces off session lows
At the time of writing, the NZD/USD is still entrenched in negative territory, operating at 0.7729 in these moments, now down only -0.28% during US trading. Despite the recent recovery, the Mataf.net analyst team has identified the next short-term measures of support below at 0.7691, then 0.7634, and 0.7584. Alternatively, resistance lies higher at 0.7798, onto 0.7848, and 0.7905.
NZD/USD could extend below 0.7000
According to Mike Jones, an Analyst at BNZ, “The brightening US outlook means the NZD/USD peak appears to be behind us. However, expectations that the currency will keep falling are misplaced. Lofty commodity prices, rising interest rates, bearish speculative positioning, and healthy momentum in the NZ economy are all NZD supports we’d need to see crumble before we’d become convinced the NZD/USD is heading down to 0.7000 and below.”
NZD/USD bounces off session lows
At the time of writing, the NZD/USD is still entrenched in negative territory, operating at 0.7729 in these moments, now down only -0.28% during US trading. Despite the recent recovery, the Mataf.net analyst team has identified the next short-term measures of support below at 0.7691, then 0.7634, and 0.7584. Alternatively, resistance lies higher at 0.7798, onto 0.7848, and 0.7905.
NZD/USD could extend below 0.7000
According to Mike Jones, an Analyst at BNZ, “The brightening US outlook means the NZD/USD peak appears to be behind us. However, expectations that the currency will keep falling are misplaced. Lofty commodity prices, rising interest rates, bearish speculative positioning, and healthy momentum in the NZ economy are all NZD supports we’d need to see crumble before we’d become convinced the NZD/USD is heading down to 0.7000 and below.”