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7 Oct 2013
NZD/USD, short-term trend diverging; bulls contain bears at 0.83 zone
FXstreet.com (Chicago) - NZD/USD extends intraday bearish channel from session highs at the closing of Wall Street.
Wall Street closed with losses with the Dow below the 15,000 zone down 0.91%. The Nasdaq printed 0.98% losses and the S&P500 0.85% losses amid a political crisis that continues and the debt deficit issue worrying market participants. The NZIER business confidence results will be releases in New Zealand at 21 GMT.
NZD/USD Technical Levels
Price action reveals a potentially exhausted bullish rally on impressive recovery from 0.8270 session lows. With a remarkable 4.01% advancement against the greenback this month, the pair flows with the primary and secondary trends pointing up but a short-term diverging and pointing down. Offered at 0.8315 the pair navigates between supports aligned at 0.8319 (October 3rd highs), 0.8279 (session lows) followed by 0.8245 (September 27th lows) and the resistances set at 0.8343 (October 1st highs), 0.8363 (September 23rd lows) ahead of 0.8391 (September 21st highs).
Wall Street closed with losses with the Dow below the 15,000 zone down 0.91%. The Nasdaq printed 0.98% losses and the S&P500 0.85% losses amid a political crisis that continues and the debt deficit issue worrying market participants. The NZIER business confidence results will be releases in New Zealand at 21 GMT.
NZD/USD Technical Levels
Price action reveals a potentially exhausted bullish rally on impressive recovery from 0.8270 session lows. With a remarkable 4.01% advancement against the greenback this month, the pair flows with the primary and secondary trends pointing up but a short-term diverging and pointing down. Offered at 0.8315 the pair navigates between supports aligned at 0.8319 (October 3rd highs), 0.8279 (session lows) followed by 0.8245 (September 27th lows) and the resistances set at 0.8343 (October 1st highs), 0.8363 (September 23rd lows) ahead of 0.8391 (September 21st highs).