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14 Nov 2013
NZD/USD stalls at 38.2% Fibo; under 0.83
FXstreet.com (Chicago) - NZD/USD retraced from the 0.83 zone after attempting to breakthrough it earlier today. After the monetary and economic discourses, the greenback got stronger across the board.
Data, performance
Worse than expected retail sales ex-autos in New Zealand at -0.1% vs. prior 2.1% weakened the kiwi considerably sending the pair below the 0.83 zone after reaching weekly gains. Throughout Thursday, the pair advanced bouncing off from 0.8231 session lows to reach the 0.8359 skies. Around the 38.2% Fibonacci level (0.8230/ 0.83), the pair attempts to erase the 0.10% losses incurred so far today.
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8277 and oscillates between the supports aligned at 0.8270 (October 29th highs), 0.82 (October 30th lows) ahead of 0.8140 (August 16th highs) and the resistances aligned at 0.8313 (November 4th highs), 0.8355 (November 7th lows) followed by 0.8410 (November 6th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis navigating above the EMA20.
Data, performance
Worse than expected retail sales ex-autos in New Zealand at -0.1% vs. prior 2.1% weakened the kiwi considerably sending the pair below the 0.83 zone after reaching weekly gains. Throughout Thursday, the pair advanced bouncing off from 0.8231 session lows to reach the 0.8359 skies. Around the 38.2% Fibonacci level (0.8230/ 0.83), the pair attempts to erase the 0.10% losses incurred so far today.
NZD/USD Technical Levels
Technically speaking, the pair is offered at 0.8277 and oscillates between the supports aligned at 0.8270 (October 29th highs), 0.82 (October 30th lows) ahead of 0.8140 (August 16th highs) and the resistances aligned at 0.8313 (November 4th highs), 0.8355 (November 7th lows) followed by 0.8410 (November 6th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis navigating above the EMA20.