FXstreet.com (Barcelona) - After a tumultuous trading day yesterday, the pair has seemed to exercise more stability Wednesday, trading between the defined range of 0.7946 (daily low) and 0.7998 (daily maximum). During the morning of European trading the pair has crossed over to negative territory.
According to the research team Bank of New Zealand, the new model of long-term equilibrium "is actually greater than the wisdom and the purchasing power parity (PPP), thus we suggest the NZD is not as 'overrated' as many think."
The cross is trading around 0.7960, falling at a rate of -0.18% below its opening level. Mataf.net technical analysts confirm that the next short-term supports would be located at 0.7942, 0.7899, and finally 0.7867. On the ascension, a penetration of 0.8017 will expose the resistances of 0.8049 and then 0.8092.
According to the research team Bank of New Zealand, the new model of long-term equilibrium "is actually greater than the wisdom and the purchasing power parity (PPP), thus we suggest the NZD is not as 'overrated' as many think."
The cross is trading around 0.7960, falling at a rate of -0.18% below its opening level. Mataf.net technical analysts confirm that the next short-term supports would be located at 0.7942, 0.7899, and finally 0.7867. On the ascension, a penetration of 0.8017 will expose the resistances of 0.8049 and then 0.8092.
