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27 Jan 2014
NZD/USD posts small gains, holds above 0.8200
FXstreet.com (Córdoba) - The NZD/USD finished Monday with gains after falling in the previous four trading days. During Monday's Asian session traded momentarily under 0.8200 and bounced quickly back above, gaining momentum. The pair peaked during the European session at 0.8261 and tested several times the highs but failed to break higher.
On New York, the NZD/USD trimmed gains and fell, finding support at 0.8215 from where it rebounded to finish the day hovering around 0.8240.
Levels to watch for the NZD/USD
To the upside immediate resistance lies at 0.8260 (January 27 highs) and above at 0.8295 (January 24 highs). While to the downside immediate support is located around 0.8215 (recent session lows) and below around the 0.8200 area.
It is probable that a clear break below 0.8200 could trigger stops, sending the Kiwi even lower. Support levels under lie at 0.8185 and 0.8145 (December 19, 20 and 27 lows).
On New York, the NZD/USD trimmed gains and fell, finding support at 0.8215 from where it rebounded to finish the day hovering around 0.8240.
Levels to watch for the NZD/USD
To the upside immediate resistance lies at 0.8260 (January 27 highs) and above at 0.8295 (January 24 highs). While to the downside immediate support is located around 0.8215 (recent session lows) and below around the 0.8200 area.
It is probable that a clear break below 0.8200 could trigger stops, sending the Kiwi even lower. Support levels under lie at 0.8185 and 0.8145 (December 19, 20 and 27 lows).