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28 Nov 2013
NZD/USD violates support at 0.8124
FXstreet.com (Chicago) - NZD/USD succumbed to bearish pressure violating the immediate support at 0.8124 momentarily ahead of data releases in NZ after a super quiet day in the US on Thanksgiving holiday.
NZD/USD Technical Levels
Price action reveals the pair is offered at 0.8124 dipping below the immediate support momentarily on strong bearish pressure shortly after the end of the American trading hours. Rebounding, the pair attempts to consolidate above the 0.8130 zone and oscillates back between the supports aligned at 0.8124 (November 22nd lows), 0.8094 (September 14th lows) ahead of 0.8049 (August 8th highs) and the resistances set at 0.8152 (November 23rd lows), 0.82 (November 12th lows) followed by 0.8260 (November 25th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is strongly bearish and navigates below the EMA20.
NZD/USD Technical Levels
Price action reveals the pair is offered at 0.8124 dipping below the immediate support momentarily on strong bearish pressure shortly after the end of the American trading hours. Rebounding, the pair attempts to consolidate above the 0.8130 zone and oscillates back between the supports aligned at 0.8124 (November 22nd lows), 0.8094 (September 14th lows) ahead of 0.8049 (August 8th highs) and the resistances set at 0.8152 (November 23rd lows), 0.82 (November 12th lows) followed by 0.8260 (November 25th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is strongly bearish and navigates below the EMA20.