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19 Dec 2013
NZD/USD falls to 0.8156, 12-week bottoms
FXstreet.com (Chicago) - NZD/USD continues losing pips adding up 90 given in so far after a weaker than expected trade balance performance in NZ and despite poor job market results in the US.
NZD/USD Technical Levels
Price action reveals the pair falls to 12-day lows at 0.8156 on strong bearish pressure driven by the strengthening of the dollar. Extending the bearish channel that originated a week ago and with diverging primary and secondary trends, the latter pointing down, the pair struggles not to drown and extend losses. So far, the kiwi is the biggest loser for the day with 90 pips given in and a weekly loss of 1.19% so far. Offered at 0.8161, the pair oscillates between the supports aligned at 0.8153 (December 5th lows), 0.8124 (November 22nd lows) ahead of 0.8082 (November 28th lows) and the resistances at 0.8183 (December 12th lows), 0.8231 (December 17th lows) followed by 0.8269 (December 13th highs).
NZD/USD Technical Levels
Price action reveals the pair falls to 12-day lows at 0.8156 on strong bearish pressure driven by the strengthening of the dollar. Extending the bearish channel that originated a week ago and with diverging primary and secondary trends, the latter pointing down, the pair struggles not to drown and extend losses. So far, the kiwi is the biggest loser for the day with 90 pips given in and a weekly loss of 1.19% so far. Offered at 0.8161, the pair oscillates between the supports aligned at 0.8153 (December 5th lows), 0.8124 (November 22nd lows) ahead of 0.8082 (November 28th lows) and the resistances at 0.8183 (December 12th lows), 0.8231 (December 17th lows) followed by 0.8269 (December 13th highs).