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19 Apr 2013
Forex: NZD/USD breaks above resistance to test session highs
FXstreet.com (Barcelona) - The NZD/USD has broken higher Friday, edging above resistance and recording fresh highs at the 0.8465/69 in these moments. During European trading, the cross has already notched a +0.63% gain as risk appetite abounds.
After exceeding calculated resistance at 0.8452, Mataf.net analysts point to additional means of correction at 0.8494 and 0.8519. On the decline or regarding a pullback, the pair will meet support at 0.8385, ahead of 0.8360, and finally 0.8318.
According to the ICN.com technical analyst team, “The NZD/USD is trending higher to re-test the breached resistance, while trading above 23.6% correction. Overall the RSI are biased negatively while the stochastic is trending higher and due to this conflict we prefer to stay neutral for now waiting for confirmations.”
After exceeding calculated resistance at 0.8452, Mataf.net analysts point to additional means of correction at 0.8494 and 0.8519. On the decline or regarding a pullback, the pair will meet support at 0.8385, ahead of 0.8360, and finally 0.8318.
According to the ICN.com technical analyst team, “The NZD/USD is trending higher to re-test the breached resistance, while trading above 23.6% correction. Overall the RSI are biased negatively while the stochastic is trending higher and due to this conflict we prefer to stay neutral for now waiting for confirmations.”