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1 Apr 2014
NZD/USD extends losses after finding resistance at 0.8700
FXStreet (Córdoba) - After hitting a fresh 2 year high during the European session at 0.8700 the NZD/USD weakened and turned to the downside. First erased daily gains and currently is approaching 0.8640 where yesterday’s low lie.
Currently, NZD/USD is trading at 0.8645, down -0.29% on the day, having posted a daily high at 0.8703 and low at 0.8643.
Correction ahead for the NZD/USD?
Price is retreating once again from the area round 0.8700, forming a potential double top and suggesting the probability of some downside correction ahead. Below 0.8640, the next immediate support lies at 0.8610 and below here at 0.8595.
Currently, NZD/USD is trading at 0.8645, down -0.29% on the day, having posted a daily high at 0.8703 and low at 0.8643.
Correction ahead for the NZD/USD?
Price is retreating once again from the area round 0.8700, forming a potential double top and suggesting the probability of some downside correction ahead. Below 0.8640, the next immediate support lies at 0.8610 and below here at 0.8595.