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24 Dec 2013
NZD/USD sliding closer to critical support at 0.8139
FXstreet.com (Barcelona) - The NZD/USD is still between support and resistance but is now trading ever closer to support at 0.8139.
NZD/USD traders will have to rely on US data Tuesday
NZD/USD traders will be reliant on the data flow from the US for meaningful directional guidance Tuesday. Until that flow starts up during the US session, the existing short-term downside momentum and technical influences will be steering traders’ decisions.
The US data due out Tuesday include:
• US Mortgage Applications
• US Durable Goods
• US New Home Sales
Technical outlook for NZD/USD
Technicians say the NZD/USD is likely headed for a test of support at 0.8139. If that level breaks, the next support level comes into play at the 11/29 low of 0.8083. Resistance comes into play for NZD/USD at Monday’s high of 0.8215 and is backed up by the 12/17 high of 0.8217.
NZD/USD traders will have to rely on US data Tuesday
NZD/USD traders will be reliant on the data flow from the US for meaningful directional guidance Tuesday. Until that flow starts up during the US session, the existing short-term downside momentum and technical influences will be steering traders’ decisions.
The US data due out Tuesday include:
• US Mortgage Applications
• US Durable Goods
• US New Home Sales
Technical outlook for NZD/USD
Technicians say the NZD/USD is likely headed for a test of support at 0.8139. If that level breaks, the next support level comes into play at the 11/29 low of 0.8083. Resistance comes into play for NZD/USD at Monday’s high of 0.8215 and is backed up by the 12/17 high of 0.8217.