Back
28 Jul 2014
NZD/USD rebounds slightly from 1-month lows
FXStreet (Córdoba) - The NZD/USD bottomed during the European session at 0.8528, hitting the lowest price since June 12. Afterwards bounced to the upside and trimmed daily losses.
The recovery from the lows found resistance at 0.8560 and currently the pair is hovering around 0.8550; near Friday’s closing price.
The US dollar lost momentum against commodity currencies after the European session but activity remains limited, with volatility at extreme low levels. The NZD/USD moved all day in a range smaller than 40 pips.
NZD/USD levels to consider
To the upside, immediate resistance lies at 0.8560 (daily high) and above here at 0.8595 and then 0.8620. To the downside, support might be located at 0.8525/30 (July 28 low) followed by 0.8500.
The recovery from the lows found resistance at 0.8560 and currently the pair is hovering around 0.8550; near Friday’s closing price.
The US dollar lost momentum against commodity currencies after the European session but activity remains limited, with volatility at extreme low levels. The NZD/USD moved all day in a range smaller than 40 pips.
NZD/USD levels to consider
To the upside, immediate resistance lies at 0.8560 (daily high) and above here at 0.8595 and then 0.8620. To the downside, support might be located at 0.8525/30 (July 28 low) followed by 0.8500.