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Forex: NZD/USD eyes retest of 0.8400

By FXstreet.com,  January 08, 2013, 08:13:00 PM EDT

FXstreet.com (San Francisco) - NZD/USD jumped to a fresh 5-day high Wednesday, likely underpinned by AUD/NZD selling interest after Australia reported November Retail Sales figures that were well below expectations, weakening the aussie across the board. NZD/USD has pushed above overnight resistance at 0.8380, testing offers through 0.8386, and stalling just ahead of key resistance at 0.8390 (2 Jan high) and the psychological 0.8400 figure. 78.6% retracement resistance around 0.8405 may attract offers above there. Bearish targets are noted at 0.8350 (14 Sep high), 0.8315 (April 13 high) and 0.8285 (19 Mar high).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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