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20 Mar 2013
Forex: NZD/USD trading unevenly at 0.8228/30
FXstreet.com (Barcelona) - The kiwi seems to be the exception of the risk-based currencies advancing Wednesday. After trading negatively during US trading earlier, the pair has continued this trend after the Fed announcement – in these moments the cross has settled at 0.8228/30, entrenched in negative territory at -0.21%.
According to Mark De La Paz, an analyst at FX Instructor, “The Hourly NZD/USD chart is in a bear market with a medium credible bullish engulfing present, suggesting we look for a turn-around.”
De La Paz identifies supportive structures at 0.8225, ahead of 0.8205, and finally 0.8103. Conversely, short-term resistances for the NZD/USD can be found at 0.8247, onto 0.8266, and ultimately 0.8288.
Earlier today in the United States, the Fed has decided to hold interest rates at 0.25%, which was precisely in line with expectations.
According to Mark De La Paz, an analyst at FX Instructor, “The Hourly NZD/USD chart is in a bear market with a medium credible bullish engulfing present, suggesting we look for a turn-around.”
De La Paz identifies supportive structures at 0.8225, ahead of 0.8205, and finally 0.8103. Conversely, short-term resistances for the NZD/USD can be found at 0.8247, onto 0.8266, and ultimately 0.8288.
Earlier today in the United States, the Fed has decided to hold interest rates at 0.25%, which was precisely in line with expectations.