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22 Apr 2014
NZD/USD retreats from 0.8620
FXStreet (Córdoba) - The NZD/USD rose further after the Asian session and climbed to 0.8619, hitting a 3-day high but lost momentum after Wall Street opening and pulled back. Recently fell below 0.8600 and currently trades at 0.8595, up 0.30% for the day but at the lowest level since European hours.
The Kiwi trimmed gains and is having difficulties holding above 0.8600 as the US dollar recovers ground across the board. The pair still holds a bullish bias for the day and is breaking a downtrend line, originated at April highs.
Levels to watch for NZD/USD
To the upside, immediate resistance lies at 0.8620 (daily high) and above here at 0.8645/50 (April 17 high) and 0.8680. To the downside support might lie at 0.8585 (Asian session high) and below at 0.8550 (last week lows).
The Kiwi trimmed gains and is having difficulties holding above 0.8600 as the US dollar recovers ground across the board. The pair still holds a bullish bias for the day and is breaking a downtrend line, originated at April highs.
Levels to watch for NZD/USD
To the upside, immediate resistance lies at 0.8620 (daily high) and above here at 0.8645/50 (April 17 high) and 0.8680. To the downside support might lie at 0.8585 (Asian session high) and below at 0.8550 (last week lows).