Forex: NZD/USD returns to opening levels at 0.8339/40

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FXstreet.com (Barcelona) - The NZD/USD has pared its losses from earlier today, after bottoming out in the 0.8313 region. While risk appetite has certainly waned today during European trading, the pair seems to have been devoid of a major pullback, holding onto the majority of yesterday's gains as the cross holds above the 0.8300 mark. At the time of writing, the pair is trading in the area of 0.8339/40, returning to opening levels and incurring a marginal -0.01% loss Thursday.

Technically speaking, ICN.com analysts highlight supports at 0.8310, down to 0.8250, and eventually 0.8225. On the other side, a break above 0.8355 will lead to resistive means of correction at 0.8385 and 0.8400 (key resistance).

"The NZD/USD declined and is still limited within the ascending channel, which makes us hold on to our positive expectations. We prefer to see the pair stabilize above 0.8355 levels in order to keep the possibility of positivity." notes the ICN.com analyst team.



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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