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9 Oct 2013
NZD/USD stuck around 0.8273 session lows
FXstreet.com (Chicago) - NZD/USD tops worst performers among major currency pairs with 0.42% weekly losses and 0.08% daily retracements on greenback’s strengthening after the White House announcement to elect Yellen as the new Chairman of the Fed.
NZ data; Yellen's appointment
Worse-than-expected NZ data may have triggered the pair’s gradual descent throughout the Asian session so far. In the US, it is assumed Yellen will bring continuity to Bernanke’s monetary policies.
NZD/USD Technical Levels
Price action reveals a strong resistance around the 0.8320 zone from which the pair fell shortly after Tokyo’s opening. Hitting grounds around the 0.8273 zone, the pair attempts to consolidate an inconclusive reversal above the 0.8280 front. Offered at 0.8282, it oscillates between supports aligned at 0.8270 (October 7th lows), 0.8245 (September 27th lows) ahead of 0.8215 (September 25th lows) and the resistances set at 0.8319 (October 3rd highs), 0.8343 (October 1st highs) followed by 0.8363 (September 23rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
NZ data; Yellen's appointment
Worse-than-expected NZ data may have triggered the pair’s gradual descent throughout the Asian session so far. In the US, it is assumed Yellen will bring continuity to Bernanke’s monetary policies.
NZD/USD Technical Levels
Price action reveals a strong resistance around the 0.8320 zone from which the pair fell shortly after Tokyo’s opening. Hitting grounds around the 0.8273 zone, the pair attempts to consolidate an inconclusive reversal above the 0.8280 front. Offered at 0.8282, it oscillates between supports aligned at 0.8270 (October 7th lows), 0.8245 (September 27th lows) ahead of 0.8215 (September 25th lows) and the resistances set at 0.8319 (October 3rd highs), 0.8343 (October 1st highs) followed by 0.8363 (September 23rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.