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8 Oct 2013
NZD/USD churning below short-term resistance at 0.8349; next move lower?
FXstreet.com (Barcelona) - The NZD/USD is setting up for more downside in the very short-term unless the 0.8350 resistance level is taken out.
NZD/USD traders get some actual data on which to focus Tuesday
NZD/USD traders will get to focus on some data Tuesday instead of only DC politics – including New Zealand Electronic Card Retail Sales early in the session and several US Fed Head speeches throughout the latter part of the session.
Technical outlook for NZD/USD
Technicians say NZD/USD may be in the “c” wave of an “abc” downside correction. They note that if that is the case that the downside target will be 0.8126 – but Wednesday’s low of 0.8192 will have to be broken on the way down. Resistance comes in at Friday’s peak at 0.8349.
NZD/USD traders get some actual data on which to focus Tuesday
NZD/USD traders will get to focus on some data Tuesday instead of only DC politics – including New Zealand Electronic Card Retail Sales early in the session and several US Fed Head speeches throughout the latter part of the session.
Technical outlook for NZD/USD
Technicians say NZD/USD may be in the “c” wave of an “abc” downside correction. They note that if that is the case that the downside target will be 0.8126 – but Wednesday’s low of 0.8192 will have to be broken on the way down. Resistance comes in at Friday’s peak at 0.8349.