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17 Mar 2014
NZD/USD remains sideways above 0.8520
FXStreet (Córdoba) - The NZD/USD opened trading inside Friday’s range, above 0.8500. Recently rebounded at 0.8520 and currently is trading at 0.8530/35, around the price it closed last week.
NZD/USD technical outlook
The pair continues to trade sideways, within a trading range with support at 0.8520 and resistance at 0.8550/60. During Friday price action was quiet and could continue that way early on Monday.
The trend favors the upside, as the pair consolidates above 0.8500 after climbing on Thursday to 0.8605, the highest price in almost a year. Price was rejected from above 0.8600 that could be a difficult barrier to break.
To the downside, the immediate support level is the zone between 0.8500 and 0.8520; and below here at 0.8470 and 0.8430 (March 12 low).
NZD/USD technical outlook
The pair continues to trade sideways, within a trading range with support at 0.8520 and resistance at 0.8550/60. During Friday price action was quiet and could continue that way early on Monday.
The trend favors the upside, as the pair consolidates above 0.8500 after climbing on Thursday to 0.8605, the highest price in almost a year. Price was rejected from above 0.8600 that could be a difficult barrier to break.
To the downside, the immediate support level is the zone between 0.8500 and 0.8520; and below here at 0.8470 and 0.8430 (March 12 low).