NZD/USD Fundamental Analysis Jan.19, 2012 Forecast
Close of the Asian Session
Economic Events:
There are no economic events or reports expected to effect the kiwi today.
Analysis and Recommendation:
Levels of Support and Resistance can be found today at:
S1: 0.7829 |S2: 0.7758 |S3: 0.7718
R1: 0.7940 |R2: 0.7980 |R3: 0.8051
The New Zealand dollar moved higher against its U.S. counterpart on Wednesday, but gains were limited as investors were cautious ahead of a series of debt auctions in the euro zone and new Greece bailout talks.
NZD/USD hit 0.8012 after Asian trade, the pair is trading in a tight range, opening this morning at 0.8003 and remaining in this range all through the session. As with its neighbor, the USD/AUD, we expect them to slowdance for the next few days, waiting for news from the EU.
There is no upside to this trade at present, its just a wait see.
Originally posted here
