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16 May 2014
NZD/USD holding around 0.8650
FXStreet (Bali) - The Kiwi was the under-performer during Thursday's trading, with the pair losing over 0.3% against the USD before recovering towards 0.8650.
NZD/USD outlook
The technical picture, according to Jim Langlands, Founder at FXCharts, sees "indicators mixed, so a neutral stance is required, although the 4h charts do suggest that the Kiwi could come under some pressure and a retest of the session lows would not surprise."
NZD/USD key levels
In terms of key levels to watch for today, Jim adds: "Below 0.8625, there is strong support at 0.8600, although if this were taken out, it would trigger plenty of stops as it would head down below the rising trend support and could see a fall towards the next realistic support at around 0.8520. On the topside, the 200 HMA is at 0.8655 which may cap it on the day. If wrong, we could see a return to 0.8670 but I doubt we are likely to see 0.8700 again for a while."
NZD/USD outlook
The technical picture, according to Jim Langlands, Founder at FXCharts, sees "indicators mixed, so a neutral stance is required, although the 4h charts do suggest that the Kiwi could come under some pressure and a retest of the session lows would not surprise."
NZD/USD key levels
In terms of key levels to watch for today, Jim adds: "Below 0.8625, there is strong support at 0.8600, although if this were taken out, it would trigger plenty of stops as it would head down below the rising trend support and could see a fall towards the next realistic support at around 0.8520. On the topside, the 200 HMA is at 0.8655 which may cap it on the day. If wrong, we could see a return to 0.8670 but I doubt we are likely to see 0.8700 again for a while."