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15 Jul 2013
NZD/USD moving below the 0.7800 handle
FXstreet.com (London) - NZD/USD has recovered from sub 0.7760 overnight to regain above the 0.7800 handle, although now tests through the figure.
In a quiet start to the week, NZD/USD is a little offered ahead of US retails sales this afternoon and NZ CPI tonight. A high reading will put real pressure on the RBNZ. The week ahead will pick up with Bernanke speaking on Wednesday night.
NZD/USD trading blow descending trend line
NZD/USD is trading below the main descending trend line formed Apr / May highs. The pair continues to consolidate in the bearish trend. Danske Bank’s Technical Update offers a slightly bullish near term bias. Support comes from their report at 0.7770, 0.7753, 0.7715 and resistance 0.7828, 0.7879 and 0.7908.
In a quiet start to the week, NZD/USD is a little offered ahead of US retails sales this afternoon and NZ CPI tonight. A high reading will put real pressure on the RBNZ. The week ahead will pick up with Bernanke speaking on Wednesday night.
NZD/USD trading blow descending trend line
NZD/USD is trading below the main descending trend line formed Apr / May highs. The pair continues to consolidate in the bearish trend. Danske Bank’s Technical Update offers a slightly bullish near term bias. Support comes from their report at 0.7770, 0.7753, 0.7715 and resistance 0.7828, 0.7879 and 0.7908.