Fx NZD Analysis 28 June 2011
FXFXFX.com 2011-06-28 12:41:19 AM GMT +0800

Fx NZD Analysis 28 June 2011

NZD/USD to consolidate with risks skewed higher. Supported by better investor risk appetite, weak USD sentiment. But NZD/USD topside limited by caution before Greek parliament''''s vote tomorrow on austerity package; weak commodity prices. Daily chart still negative-biased as MACD & stochastics in bearish mode. Resistance at 0.8081 (yesterday''''s high), then at 0.8106 (hourly chart); breach would expose upside to 0.8172-0.8177 band (Friday''''s high-Thursday''''s high), then 0.8193 (Wednesday''''s high), 0.8214 (June 14 high) and 0.8279 (June 10 high). Support at 0.7998 (yesterday''''s low); breach would target 0.7968 (June 16 reaction low), then 0.7854 (May 23 reaction low).