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18 Sep 2013
NZD/USD easing back after strong day Tuesday; 0.8213 support holding up
FXstreet.com (Barcelona) - The NZD/USD cross has pulled back gently early Wednesday after a very strong day Tuesday. It is sitting right at Fibonacci support at 0.8213.
NZD/USD trading action to be driven by FOMC news Wednesday
The NZD/USD will likely be on the move in a big way Wednesday once the US FOMC releases its interest rate decision and “tapering” plans at 18:00 GMT. The volatility is likely to continue at 18:30 when Ben Bernanke takes center stage for his press conference.
Technical outlook for NZD/USD
Technicians say the close above 0.8141 was bullish for NZD/USD and that the next resistance will be 0.8300 and is followed up by 0.8399 – both numbers are Fibonacci projections. Support for NZD/USD comes in at 0.8213 - Fibonacci retracement support.
NZD/USD trading action to be driven by FOMC news Wednesday
The NZD/USD will likely be on the move in a big way Wednesday once the US FOMC releases its interest rate decision and “tapering” plans at 18:00 GMT. The volatility is likely to continue at 18:30 when Ben Bernanke takes center stage for his press conference.
Technical outlook for NZD/USD
Technicians say the close above 0.8141 was bullish for NZD/USD and that the next resistance will be 0.8300 and is followed up by 0.8399 – both numbers are Fibonacci projections. Support for NZD/USD comes in at 0.8213 - Fibonacci retracement support.