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16 Dec 2013
NZD/USD extends bullish channel
FXstreet.com (Chicago) - NZD/USD beats a weaker greenback printing higher highs and lows and attempting to erase the losses incurred during the Asian and European trading sessions. The data releases in Australia and China due earlier tomorrow may have an effect on price action, until then the climb is set to extend.
NZD/USD Technical Levels
Price action reveals the pair’s comeback was strong after falling to session lows around the 0.8242 zone. Extending a bullish channel on upward trendline that is intact right into the American trading session, the attempt to erase daily losses, if continued, will prove to be successful. Offered at 0.8275, the pair navigates between the supports aligned at 0.8242 (December 16th lows), 0.82 (December 13th lows) ahead of 0.8183 (December 12th lows) and the resistances set at 0.8286 (December 16th highs), 0.8318 (December 12th highs) followed by 0.8338 (December 10th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and presents a neutral EMA20.
NZD/USD Technical Levels
Price action reveals the pair’s comeback was strong after falling to session lows around the 0.8242 zone. Extending a bullish channel on upward trendline that is intact right into the American trading session, the attempt to erase daily losses, if continued, will prove to be successful. Offered at 0.8275, the pair navigates between the supports aligned at 0.8242 (December 16th lows), 0.82 (December 13th lows) ahead of 0.8183 (December 12th lows) and the resistances set at 0.8286 (December 16th highs), 0.8318 (December 12th highs) followed by 0.8338 (December 10th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and presents a neutral EMA20.