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28 Jan 2014
NZD/USD moves to the upside in Asia
FXstreet.com (Córdoba) - The NZD/USD is rising early in Asia, but remains below Monday's highs located at 0.8261. The pair bottomed at 0.8195 yesterday but managed to reverse the trend and finished flat around 0.8220, after finding resistance at the 0.8260 area.
So far, the Kiwi was not affected by comments made by the New Zealand Finance Minister, who showed concern about the level of the AUD/NZD.
Technical outlook for the NZD/USD
According to Jim Langlands, from FX Charts, short-term pressure looks to be on the downside “with the long term rising trend support at around 0.8200 coming under some pressure.” Langlands affirms that there is good support below 0.8200: “I do not really see it racing to the downside, although we could get a test of the 200 DMA currently at 0.8140”.
The upside also has plenty of areas of resistance he notes, that goes to 0.8300 and above. “I don’t see it up here today and would use 0.8200/0.8285 as a guide”.
So far, the Kiwi was not affected by comments made by the New Zealand Finance Minister, who showed concern about the level of the AUD/NZD.
Technical outlook for the NZD/USD
According to Jim Langlands, from FX Charts, short-term pressure looks to be on the downside “with the long term rising trend support at around 0.8200 coming under some pressure.” Langlands affirms that there is good support below 0.8200: “I do not really see it racing to the downside, although we could get a test of the 200 DMA currently at 0.8140”.
The upside also has plenty of areas of resistance he notes, that goes to 0.8300 and above. “I don’t see it up here today and would use 0.8200/0.8285 as a guide”.