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New Zealand Dollar Technical Analysis

Posted by Joseph Trevisani on Aug 8, 2013 5:09:00 PM

 

The New Zealand Dollar rebounded from its 21 day moving average at 0.7939 today (low 0.7934)  before heading back towards the 38.2% Fibonacci level (0.8063) of the April to June (0.8676-0.7684) fall, closing at 0.8008.

ScreenHunter 1631 Aug. 08 18.31

Initial support is now at that 21-day average. A close below 0.7883, the low on August 7th would be needed to transfer the focus to the sell side. A close below 0.7820, the low on the 6th, would be even more convincing.

The New Zealand Dollar appears ready to retest the 0.8063 (38.2% Fibonacci level) and the July 25th 0.8106 high.

Resistance

0.8128 - 100 day moving average
0.8106 - Monthly high June

0.8063 - 38.2% Fibonacci retracement of April to June 0.8676-0.768
0.8045 - High August 8

Current Price 0.8000 6:15 pm Thursday August 8, 2013

Support

0.7939 - 21 day moving average

0.7883 - Low August 7
0.7820 - Low August 6

 

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