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16 Apr 2013
Forex: NZD/USD finds resistance below 0.8500
FXstreet.com (Barcelona) - NZD/USD has been confined to a relatively tight range today and looks open to a continuation as we head towards the European close.
Despite a pull back in the early hours, spot has generally edged higher today, posting a high at 0.8497, and held back by dual resistance at 0.8500 and the hourly 55 & 200 MA´s just above. Data wise, today has seen generally weaker than expected US numbers, but the impact has not been significant on price action. Hourly stochastics are at 76 and look to have an upside bias, just below overbought territory, while RSI is indicating a drift higher but is at 54 still.
Despite a pull back in the early hours, spot has generally edged higher today, posting a high at 0.8497, and held back by dual resistance at 0.8500 and the hourly 55 & 200 MA´s just above. Data wise, today has seen generally weaker than expected US numbers, but the impact has not been significant on price action. Hourly stochastics are at 76 and look to have an upside bias, just below overbought territory, while RSI is indicating a drift higher but is at 54 still.