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12 Jul 2013
NZD/USD dropping through 0.7800
FXstreet.com (London) - NZD/USD had opened European markets on the back-foot, edging lower throughout the morning.
NZD/USD has now broken to the downside through the 0.7800 handle to find bids again, moving around the figure. The pair is moving away from the descending resistance line longer-term. The pair also would not have benefited from another set of Chinese RRR-cut rumours, but will remain bid on RBZ rumours for a rate hike.
NZD/USD Levels
Danske Bank Technical Update offers a minor upside bias for the near term through the 20D ma 0.7825 with RSI 9 strength at 52.41. Support comes at 0.77.84, 0.7763, 0.7715 and Resistances are 0.7889, 0.7908, 0.7925 and 0.7970.
NZD/USD has now broken to the downside through the 0.7800 handle to find bids again, moving around the figure. The pair is moving away from the descending resistance line longer-term. The pair also would not have benefited from another set of Chinese RRR-cut rumours, but will remain bid on RBZ rumours for a rate hike.
NZD/USD Levels
Danske Bank Technical Update offers a minor upside bias for the near term through the 20D ma 0.7825 with RSI 9 strength at 52.41. Support comes at 0.77.84, 0.7763, 0.7715 and Resistances are 0.7889, 0.7908, 0.7925 and 0.7970.