FXstreet.com (Barcelona) - The kiwi has joined the ranks of the euro this afternoon, i.e. currencies suffering a thrashing in the afternoon of European trading. The NZD/USD has seemingly bled all morning, before recently coming within striking distance of calculated support at 0.8100 (calculated by ICN.com analysts).
According to the Technical Analyst Team at ICN.com, “the pair has found difficulty in clinging an upside bias and we maintain a bearish outlook. Prolonged stability above the 0.8080 level makes us hold onto our positive outlook - a return above 0.8135 is required to support our expectations especially as the Linear Regression Indicators are currently negative.”
At the time of writing, the pair is firmly entrenched in the doldrums at 0.8105, recording a depreciation of -0.57% on the day. The cross will not have to descend much further before meeting its supportive thresholds, found at 0.8100, then 0.8080, and ultimately 0.8040. On the ascension, the NZD/USD will meet calculated resistance at 0.8135, 0.8185, and finally 0.8200.
According to the Technical Analyst Team at ICN.com, “the pair has found difficulty in clinging an upside bias and we maintain a bearish outlook. Prolonged stability above the 0.8080 level makes us hold onto our positive outlook - a return above 0.8135 is required to support our expectations especially as the Linear Regression Indicators are currently negative.”
At the time of writing, the pair is firmly entrenched in the doldrums at 0.8105, recording a depreciation of -0.57% on the day. The cross will not have to descend much further before meeting its supportive thresholds, found at 0.8100, then 0.8080, and ultimately 0.8040. On the ascension, the NZD/USD will meet calculated resistance at 0.8135, 0.8185, and finally 0.8200.
