26 Sep 2013
NZD/USD grinding higher in wave “c” of “abc” correction; 0.8292 resistance
FXstreet.com (Barcelona) - The NZD/USD has been in bounce / correction mode since the middle of Wednesday’s session. It appears that the correction is taking an “abc” formation with 0.8292 as the upside target resistance.
NZD/USD traders to focus on US data later Thursday
NZD/USD traders switched from focusing on weakness in the kiwi to the building weakness in the greenback resulting from continued FOMC actions or the perception thereof and from growing uneasiness about the arguing going on in Washington. The NZD/USD had fallen from 0.8435 to 0.8216 before bouncing up to 0.8254 currently.
NZD/USD traders will get to react to US GDP, weekly jobless claims, pending home sales and several “Fed Head”
speeches later in the session
Technical outlook for NZD/USD
Technicians say resistance for the bounce comes in at 0.8292 and short-term support comes in at 0.8216. The next meaningful resistance and support for NZD/USD comes is at 0.8311 and 0.8144 respectively.
NZD/USD traders to focus on US data later Thursday
NZD/USD traders switched from focusing on weakness in the kiwi to the building weakness in the greenback resulting from continued FOMC actions or the perception thereof and from growing uneasiness about the arguing going on in Washington. The NZD/USD had fallen from 0.8435 to 0.8216 before bouncing up to 0.8254 currently.
NZD/USD traders will get to react to US GDP, weekly jobless claims, pending home sales and several “Fed Head”
speeches later in the session
Technical outlook for NZD/USD
Technicians say resistance for the bounce comes in at 0.8292 and short-term support comes in at 0.8216. The next meaningful resistance and support for NZD/USD comes is at 0.8311 and 0.8144 respectively.