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7 Oct 2013
NZD/USD breaks through skies; ephemerally?
FXstreet.com (Chicago) - NZD/USD broke through immediate resistance at 0.8320 when reaching 0.8323 highs starting Monday’s session on greenback’s weakening across the board due to US political crisis.
NZ is open contrary to Australia and China closed on holidays. In the US, the political crisis carries on despite apparent efforts from both sides to have a real conversation and present solutions.
NZD/USD Technical Levels
Price action reveals short-term trends diverging with longer-term trends that point up. The pair maintains 5-month altitudes but stalls below the 0.8320 zone. Offered at 0.8319, it oscillates between supports aligned at 0.8270 (September 30th lows), 0.8245 (October 1st lows) followed by 0.82 (October 2nd lows) and resistances set at 0.8319 (September 27th highs), 0.8343 (October 2nd highs) ahead of 0.8363 (September 23rd lows). Printing higher lows and highs after falling to 0.8304 lows, the pair flows above the EMA20.
NZ is open contrary to Australia and China closed on holidays. In the US, the political crisis carries on despite apparent efforts from both sides to have a real conversation and present solutions.
NZD/USD Technical Levels
Price action reveals short-term trends diverging with longer-term trends that point up. The pair maintains 5-month altitudes but stalls below the 0.8320 zone. Offered at 0.8319, it oscillates between supports aligned at 0.8270 (September 30th lows), 0.8245 (October 1st lows) followed by 0.82 (October 2nd lows) and resistances set at 0.8319 (September 27th highs), 0.8343 (October 2nd highs) ahead of 0.8363 (September 23rd lows). Printing higher lows and highs after falling to 0.8304 lows, the pair flows above the EMA20.