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20 Jun 2013
NZD/USD trading at 0.7800 support
FXstreet.com (New York) - The NZD/USD foreign exchange rate has been unable to mount enough push to overtake the 0.7800 support/region.
Earlier today in the United States, Initial Jobless Claims (June 15) came in at 354K, missing expectations of 340K. Moreover, Continuing Jobless Claims (June 8) were reported at 2.951M vs. a projection calling for 2.960M. Finally, the Markit Manufacturing PMI (June) yielded a figure of 52.2, against estimates of 52.8.
NZD/USD bearish wave coalescing
According to the Technical Analyst Team at ICN.com, “The NZD/USD pair is unable to confirm any upside correction continues its bearish trend as it has now settled in levels below 0.7800. As a result, we view trades occurring below that level as negative and may trigger a bearish wave via touching the support of the bearish channel at around 0.7715.”
Following the stabilization surrounding the 0.7800 level, the NZD/USD foreign exchange rate deeply entrenched in negative territory at 0.7793, still off -1.32% in these moments. The Mataf.net analyst team has identified supports at 0.7796, then 0.7713, and finally 0.7585.
Earlier today in the United States, Initial Jobless Claims (June 15) came in at 354K, missing expectations of 340K. Moreover, Continuing Jobless Claims (June 8) were reported at 2.951M vs. a projection calling for 2.960M. Finally, the Markit Manufacturing PMI (June) yielded a figure of 52.2, against estimates of 52.8.
NZD/USD bearish wave coalescing
According to the Technical Analyst Team at ICN.com, “The NZD/USD pair is unable to confirm any upside correction continues its bearish trend as it has now settled in levels below 0.7800. As a result, we view trades occurring below that level as negative and may trigger a bearish wave via touching the support of the bearish channel at around 0.7715.”
Following the stabilization surrounding the 0.7800 level, the NZD/USD foreign exchange rate deeply entrenched in negative territory at 0.7793, still off -1.32% in these moments. The Mataf.net analyst team has identified supports at 0.7796, then 0.7713, and finally 0.7585.