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27 Aug 2013
NZD/USD stabilizes above key 0.7800 level
FXstreet.com (Barcelona) - The NZD/USD foreign exchange rate is last trading at 0.7822 after massive selling from session highs at 0.7868, paring all gains the Kiwi had made for the week so far, breaking even at the moment, off recent session lows at 0.7803.
NZD/USD to perform well in months ahead
“The outlook for New Zealand's economy is still bright with some economists even calling for New Zealand to be the best performing G10 nation next year,” said BK Asset Management managing director Kathy Lien, adding: “While we feel that this call may be a bit bold, we agree that the NZD is poised for further gains especially against the AUD.”
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at recent session lows 0.7803 followed by Monday's/July 10 lows at 0.7780, and Friday's lows at 0.7760. To the upside, closest resistance shows at Friday's highs 0.7859, followed by Monday's weekly highs 0.7874, and August 20 lows at 0.7949.
NZD/USD to perform well in months ahead
“The outlook for New Zealand's economy is still bright with some economists even calling for New Zealand to be the best performing G10 nation next year,” said BK Asset Management managing director Kathy Lien, adding: “While we feel that this call may be a bit bold, we agree that the NZD is poised for further gains especially against the AUD.”
NZD/USD key technical levels
Immediate support to the downside for NZD/USD lies at recent session lows 0.7803 followed by Monday's/July 10 lows at 0.7780, and Friday's lows at 0.7760. To the upside, closest resistance shows at Friday's highs 0.7859, followed by Monday's weekly highs 0.7874, and August 20 lows at 0.7949.