- Posted August 11, 2013 by
NZD/USD stalls ahead of 0.80: Micron Associates
FXstreet.com (Barcelona) - The NZD/USD foreign exchange rate is last trading at 0.8030 near fresh session lows, a +2.47% higher from past Monday's weekly open, following early selling off on Fonterra's botulism scare.
According to BNZ currency strategist Kymberly Martin the pair may climb to as high as 0.8150, while capped below the 0.8300 “as long as Fed tapering expectations remain intact,” Martin said. Little news ahead except domestic food price index at 22:45 GMT, followed by Japan GDP at 23:50 GMT.
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at July 24 highs 0.8017, followed by July 0.7969, and July 24 lows at 0.7907. To the upside, closest resistance shows at Thursday's highs 0.8048, followed by Friday's highs 0.8058, and July 29 highs at 0.8100.
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