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الخميس، 3 فبراير 2011

Forex: NZD/USD holds above 0.7700 despite USD



Despite the Greenback broad bounce across the board, the Kiwi managed to hold pretty well after the strong slump seen early Thursday on worse-than-expected NZ job data.


NZD/USD held above the 0.7700/10 area, that represents the 38.2% retracement of the last 0.7523/0.7823 rally, although it peeped below briefly and set a fresh 3-day low at 0.7689 before rebounding to current levels around 0.7730 where the pair has been consolidating for the last trading hours.


The pair holds a slightly bullish tone with next resistance levels around 0.7750, 0.7780 and 0.7820. On the other hand, supports might be faced at 0.7700/10, 0.7670 and then 0.7640.

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