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Forex: NZD/USD finds support at 0.8220

By FXstreet.com,  January 03, 2013, 10:53:00 PM EDT

FXstreet.com (San Francisco) - NZD/USD is extending another leg lower in Asia, tracking overnight weakness on greenback strength after the latest FOMC minutes exposed pessimism from Federal Reserve officials and ahead of the U.S. non-farm payrolls report later today, expected to show the world's largest economy added 150,000 jobs in December.

The market last trades at 0.8230, down around 0.6%, after finding a base at 0.8220. Price is well on track to finish the week practically unchanged after peaking in the 0.8400 price zone in earlier trade. Should the downward momentum continue, the 100-day EMA offers immediate support at 0.8199 before a test of the 0.8150 floor is possible. If bulls regain the upside, resistance is noted at 0.8270 (overnight low), then 0.8310 (Dec 7 low).




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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