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11 Feb 2013
Forex: NZD/USD rebounds off session lows to 0.8331/32
The NSD/USD has started this week in a tailspin, as all attempts to regain the 0.8400 level were stonewalled, culminating in a move downwards that took the pair towards 0.8318 (session low) during European trading. In recent minutes however, the pair has rebounded slightly, recovering the mark of 0.8331/32 in these moments, down -0.39% today.
Mondays economic calendar looks scant in comparison to last week however in regards to New Zealand, there is are some notable releases later today at 21:45 GMT, including the Electronic Card Retail Sales (YoY, and MoM) in January.
The ICN technical Analyst Team points to means of support at 0.8310 onto 0.8270 figure, and finally 0.8225. Conversely, a prolonged recovery above the 0.8355 handle will trigger resistive measures at 0.8385 and eventually 0.8415.
According to the ICN.com Analyst Team, “According to the Westpac Strategy Team, “The NZD/USD uptrend to 0.8570 next is alive as long as the 0.8250 level is not breached. That being said, 0.8300 is key because a break below that would probably send it towards 0.8100.”
Mondays economic calendar looks scant in comparison to last week however in regards to New Zealand, there is are some notable releases later today at 21:45 GMT, including the Electronic Card Retail Sales (YoY, and MoM) in January.
The ICN technical Analyst Team points to means of support at 0.8310 onto 0.8270 figure, and finally 0.8225. Conversely, a prolonged recovery above the 0.8355 handle will trigger resistive measures at 0.8385 and eventually 0.8415.
According to the ICN.com Analyst Team, “According to the Westpac Strategy Team, “The NZD/USD uptrend to 0.8570 next is alive as long as the 0.8250 level is not breached. That being said, 0.8300 is key because a break below that would probably send it towards 0.8100.”