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18 Dec 2013
NZD/USD at 38.2% Fibo; stalled at 0.8240
FXstreet.com (Chicago) - NZD/USD continues trading stalled extending the parallel movement that started last week ahead of the release of the Fed’s decision.
Earlier in NZ, the ANZ business confidence results for December were released at 64.1% vs. past 60.5%. Chinese FDI fell to 5.50% vs. prior 5.77%.
NZD/USD Technical Levels
Price action reveals the pair stalls at the lower end of a rectangular pattern after a rather quiet week for the kiwi’s performance against the greenback. Offered at 0.8248, the pair navigates between the supports aligned at 0.8238 (December 16th lows), 0.8184 (December 12th lows) ahead of 0.8138 (December 5th lows) and the resistances set at 0.8285 (December 14th highs), 0.8335 (December 10th highs) followed by 0.8392 (November 20th highs). With a still intact upward trendline from last November 28th reversal and diverging trends, the price hovers at 38.2% Fibonacci level.
Earlier in NZ, the ANZ business confidence results for December were released at 64.1% vs. past 60.5%. Chinese FDI fell to 5.50% vs. prior 5.77%.
NZD/USD Technical Levels
Price action reveals the pair stalls at the lower end of a rectangular pattern after a rather quiet week for the kiwi’s performance against the greenback. Offered at 0.8248, the pair navigates between the supports aligned at 0.8238 (December 16th lows), 0.8184 (December 12th lows) ahead of 0.8138 (December 5th lows) and the resistances set at 0.8285 (December 14th highs), 0.8335 (December 10th highs) followed by 0.8392 (November 20th highs). With a still intact upward trendline from last November 28th reversal and diverging trends, the price hovers at 38.2% Fibonacci level.