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25 Nov 2013
NZD/USD, long-term trends point down; capped below 0.82
FXstreet.com (Chicago) - NZD/USD continues heavy on bearish pressure ahead of housing market data in the US and manufacturing results in the country.
NZD/USD Technical Levels
Price action reveals an attempt to break above immediate resistance around the 0.82 that ends unsuccessfully as the bearish pressure continues heavy on the greenback’s strengthening. Offered at 0.8184, the pair oscillates between the supports aligned at 0.8155 (September 18th lows), 0.8124 (November 21st lows) ahead of 0.8091 (September 14th lows) and the resistances set at 0.8192 (October 2nd lows), 0.8230 (October 10th lows) followed by 0.8267 (October 28th lows). Daily and monthly charts evidence long-term trends pointing down and the FXstreet.com trend index on one-hour timeframe analysis analyses the pair as slightly bearish that navigates below the EMA20.
NZD/USD Technical Levels
Price action reveals an attempt to break above immediate resistance around the 0.82 that ends unsuccessfully as the bearish pressure continues heavy on the greenback’s strengthening. Offered at 0.8184, the pair oscillates between the supports aligned at 0.8155 (September 18th lows), 0.8124 (November 21st lows) ahead of 0.8091 (September 14th lows) and the resistances set at 0.8192 (October 2nd lows), 0.8230 (October 10th lows) followed by 0.8267 (October 28th lows). Daily and monthly charts evidence long-term trends pointing down and the FXstreet.com trend index on one-hour timeframe analysis analyses the pair as slightly bearish that navigates below the EMA20.