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11 Jun 2013
NZD/USD collapses to yearly lows
FXstreet.com (New York) - The <a href="http://www.fxstreet.com/technical/currencies-glance/pair.aspx?id=nzd/usd">NZD/USD foreign exchange rate managed to erase yesterdays gains, plunging to depths not seen since June 2012.
NZD/USD makes short work of multiple supportive levels
At the time of writing, the NZD/USD pair is operating at 0.7775/77, plunging lower at -1.57% during European trading. Following a loss of the 0.7839 and 0.7787 supports, the pair will encounter the next corrective level at 0.7745. Conversely, a movement higher will eventually test resistances at 0.7933, followed by 0.7975, and 0.8027, notes the Mataf.net analyst team.
Trading below key 0.7925 level extends downside
According to the Technical Analyst Team at ICN.com, “The NZD/USD is still steady below 0.7925, or 61% Fibonacci correction, threatening to trigger a potential downside bias. Trading below that level boosts chances of triggering the downside bias throughout Tuesday's session.”
NZD/USD makes short work of multiple supportive levels
At the time of writing, the NZD/USD pair is operating at 0.7775/77, plunging lower at -1.57% during European trading. Following a loss of the 0.7839 and 0.7787 supports, the pair will encounter the next corrective level at 0.7745. Conversely, a movement higher will eventually test resistances at 0.7933, followed by 0.7975, and 0.8027, notes the Mataf.net analyst team.
Trading below key 0.7925 level extends downside
According to the Technical Analyst Team at ICN.com, “The NZD/USD is still steady below 0.7925, or 61% Fibonacci correction, threatening to trigger a potential downside bias. Trading below that level boosts chances of triggering the downside bias throughout Tuesday's session.”