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8 Jul 2013
NZD/USD stabilizes above the 0.7700 barrier
FXstreet.com (New York) - The NZD/USD foreign exchange rate has clung to the 0.7700 level Monday morning during Asian trading, inching slightly above this region in recent moments.
NZD/USD recording modest gains
The NZD/USD technical pair has now settled at 0.7706, which at this juncture is now recording gains of +0.10% thus far. Briefing the technicals, any rise will look to test resistances at the 0.7723 region, onto 0.7759, and 0.7803.
NZD/USD break below 0.7685 could signal downturn
According to the BNZ Research Team, “Negative momentum, a bearish technical picture, and increasingly positive USD sentiment means we wouldn’t be surprised to see the NZD/USD continue to track below ‘fair-value’ in the short-term. A convincing break below range-bottom support at 0.7685 would likely trigger another wave of selling.”
NZD/USD recording modest gains
The NZD/USD technical pair has now settled at 0.7706, which at this juncture is now recording gains of +0.10% thus far. Briefing the technicals, any rise will look to test resistances at the 0.7723 region, onto 0.7759, and 0.7803.
NZD/USD break below 0.7685 could signal downturn
According to the BNZ Research Team, “Negative momentum, a bearish technical picture, and increasingly positive USD sentiment means we wouldn’t be surprised to see the NZD/USD continue to track below ‘fair-value’ in the short-term. A convincing break below range-bottom support at 0.7685 would likely trigger another wave of selling.”