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27 Jun 2013
NZD/USD reverses to the upside above 0.78
FXstreet.com (Barcelona) - The Kiwi dollar is pumping to the upside last at fresh session highs 0.7821 following a disappointing NZ trade balance, that showed a much lower figure that expected, with both imports and exports below consensus.
Directional buyers back in
The pair though has managed to find new buyers after the data printing session lows at 0.7765, with “a return of the directional buyers,” reported FXWW founder Sean Lee. NZD/USD is up +0.8% for the week so far, although still in the negative -5.71% year to date, and -6.64% in last 3 months.
Key technical levels
Immediate resistance to the upside for NZD/USD shows at June 20 Asia-Pacific lows 0.7827, followed by June 19 lows/yesterday's highs at 0.7852/60, and June 13 lows at 0.7895. To the downside, closest support lies at June 21 highs 0.7807, followed by June 11/recent session lows at 0.7761, and June 20/yesterday's lows at 0.7715.
Directional buyers back in
The pair though has managed to find new buyers after the data printing session lows at 0.7765, with “a return of the directional buyers,” reported FXWW founder Sean Lee. NZD/USD is up +0.8% for the week so far, although still in the negative -5.71% year to date, and -6.64% in last 3 months.
Key technical levels
Immediate resistance to the upside for NZD/USD shows at June 20 Asia-Pacific lows 0.7827, followed by June 19 lows/yesterday's highs at 0.7852/60, and June 13 lows at 0.7895. To the downside, closest support lies at June 21 highs 0.7807, followed by June 11/recent session lows at 0.7761, and June 20/yesterday's lows at 0.7715.