More from FXstreet.com

Forex: NZD/USD retreat stalls at 0.7950

By FXstreet.com,  July 11, 2012, 03:32:00 PM EDT

FXstreet.com (San Francisco) - NZD/USD has fallen into a period of consolidation around the 0.7950 mark late Wednesday, having dipped sharply from 3-day highs in the 0.8000 price zone on broad U.S. dollar demand after FOMC minutes showed no clear sign of further stimulus from the Fed.

The pairing last trades at 0.7950 vs. 0.7936 overnight Tuesday, set to end the North American session with its first daily gain in three days as it recovers yesterday's losses. Technically speaking, price continues to rotate around the 100 and 200-Day EMA's and around the 50% Fibonacci retracement zone of the downswing from 0.8469 to 0.7453. If the bear pressure continues in the Asia-Pacific session ahead, immediate support lies in the 0.7930/0.7925 area, a break of which could enable price to test support in the 50-Day EMA at 0.7885.




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

Referenced Stocks:



Latest News Video

Bomb Threat Prompts Backpack Ban at Wellington High School
Bomb Threat Prompts Backpack Ban at...
Public Takes First Look at Proposed Kakaako Development Plan
Public Takes First Look at Proposed...
Second Jewel Theft at Cannes Festival
Second Jewel Theft at Cannes Festiv...
Openly Gay US Boy Scouts Allowed
Openly Gay US Boy Scouts Allowed    


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.16 0.05  0.38%
HPQ $ 24.45 0.41  1.65%
INTC $ 23.65 0.40  1.66%
P $ 18.07 0.91  5.30%
FB $ 24.74 0.32  1.28%
PG $ 81.527 2.83  3.59%
MSFT $ 34.03 0.12  0.35%
PFE $ 28.7901 0.32  1.10%