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5 Jul 2013
NZD/USD rescinding yesterday’s gains
FXstreet.com (New York) - The NZD/USD resurgence earlier during the US session has been sufficiently curbed, having not culminated in an outright easing during Asian trading.
NZD/USD negative outlook
“We remain negative towards NZD/USD. It has been stuck in consolidation mode since 24 June but should eventually break below 0.7685 to signal a resumption of the three-month downtrend. Medium-term downside targets are 0.7460 and then 0.7200. The main influences at present are Fed tapering expectations and a weakening NZ data pulse.” warns Sean Callow, Global FX Strategist at Westpac.
NZD/USD retracing recent gains
In light of the recent easing, the NZD/USD is now settling at 0.7830 during Asian trading. Briefing the technical levels, Mataf.net analysts have identified resistances at 0.7851, onto 0.7904. Should the recent strength continue to falter, supports lie below at 0.7728, ahead of 0.7640.
NZD/USD negative outlook
“We remain negative towards NZD/USD. It has been stuck in consolidation mode since 24 June but should eventually break below 0.7685 to signal a resumption of the three-month downtrend. Medium-term downside targets are 0.7460 and then 0.7200. The main influences at present are Fed tapering expectations and a weakening NZ data pulse.” warns Sean Callow, Global FX Strategist at Westpac.
NZD/USD retracing recent gains
In light of the recent easing, the NZD/USD is now settling at 0.7830 during Asian trading. Briefing the technical levels, Mataf.net analysts have identified resistances at 0.7851, onto 0.7904. Should the recent strength continue to falter, supports lie below at 0.7728, ahead of 0.7640.