FXstreet.com (San Francisco) - NZD/USD is extending the bounce from its September low (0.7912) into the 0.8200 price zone, now up around 0.4% in Asia as regional stocks climb. Expectations of QE3 from the Fed and Chinese Premier Wen Jiabao’s recent comments that signaled there is more room for fiscal and monetary policy to support growth is also underpinning the pair as it tracks AUD. NZD/USD has climbed as high as 0.8203 so far today, a price not seen since August 7. If the bull pressure continues, resistance is noted at 0.8220 (Aug 7 high); a break above there could open scope for a test of Fibonacci resistance at 0.8275 (61.8%, 0.8841/0.7369). The market has pulled back slightly and last trades at 0.8195.
NZD/USD May 26 at 23:31 GMT
0.8083/94 (0.00%)
H0.8088 L 0.8088
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
