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31 Jul 2014
NZD/USD struggling to hold above 0.8500
FXStreet (Córdoba) - The NZD/USD managed to recoup some ground Thursday, pausing a 6-day losing streak after the Kiwi came under pressure and lost more than 200 pips in a combination of intervention fears and broad USD strength.
The NZD/USD bottomed out at 0.8460 following solid US GDP data, but managed to briefly rise above 0.8500 during the Asian session, reaching a daily high of 0.8516 in recent dealings. At time of writing, the pair is trading at 0.8495, still up 0.09% on the day.
NZD/USD technical levels
In terms of technical levels, the NZD/USD could find next resistances at 0.8520 (100-hour SMA), 0.8557 (Jul 29 high) and 0.8570 (Jul 28 high). On the other hand, supports are seen at 0.8460 (Jul 30 low), 0.8455 (200-day SMA) and 0.8442 (50.0% Fibo of 0.8051-0.8834).
The NZD/USD bottomed out at 0.8460 following solid US GDP data, but managed to briefly rise above 0.8500 during the Asian session, reaching a daily high of 0.8516 in recent dealings. At time of writing, the pair is trading at 0.8495, still up 0.09% on the day.
NZD/USD technical levels
In terms of technical levels, the NZD/USD could find next resistances at 0.8520 (100-hour SMA), 0.8557 (Jul 29 high) and 0.8570 (Jul 28 high). On the other hand, supports are seen at 0.8460 (Jul 30 low), 0.8455 (200-day SMA) and 0.8442 (50.0% Fibo of 0.8051-0.8834).