FXstreet.com (Barcelona) - The NZD/USD has continued is recovery off of the 0.8163 mark (December 27 low), after a late afternoon plunge yesterday during the American session. Friday has been a different story entirely however, as the pair appears to be riding a wave of momentum, culminating in the resumption of the 0.8200 level, and more specifically the 0.8217/19 mark in these moments.
According to the Varengold Bank Research Team, “Based on the stochastic we might expect another bullish movement for the NZD/USD, although the RSI is slightly shrinking, if the bears do not break through he support line (0.8183).”
At the time of writing, the cross has secured an advance of +0.10% on the day. Briefing the technical levels, Varengold Bank analysts point to resistive measures at 0.8252, followed by 0.8333, onto 0.8472.
According to the Varengold Bank Research Team, “Based on the stochastic we might expect another bullish movement for the NZD/USD, although the RSI is slightly shrinking, if the bears do not break through he support line (0.8183).”
At the time of writing, the cross has secured an advance of +0.10% on the day. Briefing the technical levels, Varengold Bank analysts point to resistive measures at 0.8252, followed by 0.8333, onto 0.8472.
