Forex: NZD/USD trading positively at 0.8217/19 (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.