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21 Jun 2013
NZD/USD has cracked 5min support
FXstreet.com (London) - NZD/USD has broken support at 0.7755 on the 5 min chart, albeit only modestly printing a gap in the carts of 10 pips.
NZD/USD has been drifting lower since the highs overnight from around 0.7800 the figure when the pair enjoyed a NY session in which 80 pips were claimed back since the FOMC announcements. There isn’t any data today and the weekend is drawing ever closer. The pair is ending the week some 300 pips down.
NZD/USD bearish bias
NZD/USD has a bearish bias on the charts, with MA’s in negative territory, both shorter term and longer term. The pair is still trading below the pivot with resistance coming in below 0.7750 and targeting 0.7720 / 0.7455 while activity continues below 0.8200. The channel will remain in tact so long as the pair does not close above 0.7885, topside of the descending channel.
NZD/USD has been drifting lower since the highs overnight from around 0.7800 the figure when the pair enjoyed a NY session in which 80 pips were claimed back since the FOMC announcements. There isn’t any data today and the weekend is drawing ever closer. The pair is ending the week some 300 pips down.
NZD/USD bearish bias
NZD/USD has a bearish bias on the charts, with MA’s in negative territory, both shorter term and longer term. The pair is still trading below the pivot with resistance coming in below 0.7750 and targeting 0.7720 / 0.7455 while activity continues below 0.8200. The channel will remain in tact so long as the pair does not close above 0.7885, topside of the descending channel.