22 Aug 2013
NZD/USD maintains 0.78 zone; still down
FXstreet.com (Chicago) - NZD/USD has stalled the past hour unable to recover earlier 0.10% daily losses in the afternoon of the American trading session. The pair reached weekly highs at 0.7867 but was unable to resist bearish pressure and magnetic gravity pull.
Nasdaq, do we have a problem?
So far, the Dow trades 0.43% higher while the Nasdaq is up 0.87% before activities resume after a “technical issue” that paralyzed the exchange. The S&P 500 is up 0.75%. Chinese manufacturing data brings hope for international trading activities and worldwide markets as the economy seems to be expanding. US data indicates there are still mixed results in terms of performance as initial jobless claims increased to 336K vs. previous 323K. In New Zealand, no more data is to be released later this week.
NZD/USD Technical Levels
Technically speaking, the pair faces immediate support at 0.7820 (July 18th lows), 0.7796 (June 24th highs) ahead of 0.7777 (July 10th lows) after impulsive price action post US data release. On the upside, resistances are aligned at 0.7847 (July 19th lows), 0.7864 (August 21st highs) followed by 0.7880 (August 7th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and flows below the EMA20.
Nasdaq, do we have a problem?
So far, the Dow trades 0.43% higher while the Nasdaq is up 0.87% before activities resume after a “technical issue” that paralyzed the exchange. The S&P 500 is up 0.75%. Chinese manufacturing data brings hope for international trading activities and worldwide markets as the economy seems to be expanding. US data indicates there are still mixed results in terms of performance as initial jobless claims increased to 336K vs. previous 323K. In New Zealand, no more data is to be released later this week.
NZD/USD Technical Levels
Technically speaking, the pair faces immediate support at 0.7820 (July 18th lows), 0.7796 (June 24th highs) ahead of 0.7777 (July 10th lows) after impulsive price action post US data release. On the upside, resistances are aligned at 0.7847 (July 19th lows), 0.7864 (August 21st highs) followed by 0.7880 (August 7th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and flows below the EMA20.