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29 Apr 2013
Forex: NZD/USD in session highs around 0.8560/65
FXstreet.com (Barcelona) - The kiwi dollar keeps pushing higher on Monday, printing fresh session highs in the vicinity of 0.8560/65 as risk aversion continues to shrink. Next relevant event for the NZD will be tomorrow’s RBNZ Business Confidence for the month of April.
I.Spivak, Currency Strategist at DailyFX, commented, “Prices are bouncing from support at 0.8387, the 23.6% Fibonacci retracement to test above the 14.6% level at 0.8497. A break above that aims for the 38.2% Fib. expansion at 0.8556”.
At the moment, the cross is up 0.84% at 0.8554 with the next resistance at 0.8580 (high Apr.25).
On the downside, a violation of 0.8471 (MA21d) would aim for 0.8469 (low Apr.5) and finally 0.8464 (MA10d).
I.Spivak, Currency Strategist at DailyFX, commented, “Prices are bouncing from support at 0.8387, the 23.6% Fibonacci retracement to test above the 14.6% level at 0.8497. A break above that aims for the 38.2% Fib. expansion at 0.8556”.
At the moment, the cross is up 0.84% at 0.8554 with the next resistance at 0.8580 (high Apr.25).
On the downside, a violation of 0.8471 (MA21d) would aim for 0.8469 (low Apr.5) and finally 0.8464 (MA10d).