19 Jul 2013
NZD/USD tumbles off 0.7900 barrier
FXstreet.com (New York) - The NZD/USD foreign exchange rate took a fall lower Friday morning, losing its grip on the 0.7900 level during Asian trading.
At the time of writing, the NZD/USD has waned nearly 10 pips off its opening to settle at 0.7891, now down -0.17% presently. Technically speaking, the NZD/USD is trading at its 55-day MA. A move lower will open up supports at 0.7883 (200-day SMA), ahead of 0.7858 (July 18 low), and 0.7845 (July 17 low).
NZD/USD strategic bias
According to Mike Jones, an analyst at BNZ, “It will be worth keeping an eye on Chinese repo markets for any evidence of the liquidity pressures that knocked back the AUD (and by association the NZD) yesterday. Short-term resistance on the NZD/USD remains around 0.7950, with pullbacks into the 0.7830/40 window likely to attract support.”
At the time of writing, the NZD/USD has waned nearly 10 pips off its opening to settle at 0.7891, now down -0.17% presently. Technically speaking, the NZD/USD is trading at its 55-day MA. A move lower will open up supports at 0.7883 (200-day SMA), ahead of 0.7858 (July 18 low), and 0.7845 (July 17 low).
NZD/USD strategic bias
According to Mike Jones, an analyst at BNZ, “It will be worth keeping an eye on Chinese repo markets for any evidence of the liquidity pressures that knocked back the AUD (and by association the NZD) yesterday. Short-term resistance on the NZD/USD remains around 0.7950, with pullbacks into the 0.7830/40 window likely to attract support.”