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11 Apr 2013
Forex: NZD/USD bounces back to 0.8654/57
FXstreet.com (Barcelona) - The NZD/USD rally has continued during American trading Thursday, despite a retreat off of session highs at 0.8679 earlier today. However, in recent moments, the cross has bounced off the 0.8635 level to regain its gains at 0.8654/57 at the time of writing. At this juncture, the cross is trading at +0.93% above its opening.
According to the ICN.com Analyst Team, “The NZD/USD pushed higher as expected, triggered by consolidation above 0.8500, which might extend the upside move in the coming period. We expect the pair to resume the upside wave today and over the interim targeting previous records high.”
Mataf.net analysts points to short-term resistances at 0.8675, onto 0.8725, and 0.8765. On the decline, the NZD/USD is slated to face short-term support at 0.8635 ahead of 0.8610, and finally the 0.8585 handle.
According to the ICN.com Analyst Team, “The NZD/USD pushed higher as expected, triggered by consolidation above 0.8500, which might extend the upside move in the coming period. We expect the pair to resume the upside wave today and over the interim targeting previous records high.”
Mataf.net analysts points to short-term resistances at 0.8675, onto 0.8725, and 0.8765. On the decline, the NZD/USD is slated to face short-term support at 0.8635 ahead of 0.8610, and finally the 0.8585 handle.