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18 Dec 2013
NZD/USD back above 0.8220 after GDP data
FXstreet.com (Córdoba) - The NZD/USD was testing levels under 0.8200 but after the release of New Zealand GDP data broke above 0.8220 and reached at 0.8260 a fresh daily highs. The new economic information, that came above expectations boosted the Kiwi in the market.
Price action on Wednesday saw the pair rising to test weekly highs barely below 0.8300 after the taper decision of the Federal Reserve, but it retreated strongly afterwards falling to 0.8170, the lowest price in a week. In the final hour of the American session manged to rise back above 0.8200.
NZD/USD technical levels
Short-term bias remains sideways as the price fails to make a clear break either above 0.8300 or below 0.8200. Support levels below 0.8200 could be located at 0.8170 (December 18th lows) and 0.8140 (December 5th lows). To the upside, resistance might lie at 0.8260, 0.8290 (Weekly highs) and 0.8335 (December 10th highs).
Price action on Wednesday saw the pair rising to test weekly highs barely below 0.8300 after the taper decision of the Federal Reserve, but it retreated strongly afterwards falling to 0.8170, the lowest price in a week. In the final hour of the American session manged to rise back above 0.8200.
NZD/USD technical levels
Short-term bias remains sideways as the price fails to make a clear break either above 0.8300 or below 0.8200. Support levels below 0.8200 could be located at 0.8170 (December 18th lows) and 0.8140 (December 5th lows). To the upside, resistance might lie at 0.8260, 0.8290 (Weekly highs) and 0.8335 (December 10th highs).