By the looks of the chart, it seems that NZD/USD is finding support at the 38.2% FIBO. That's a former resistance level at .805, which could be ready to hold as support for the pair. Stochastic is still pointing downwards though, suggesting that Kiwi bears might be able to push NZD/USD a little lower. Watch out for the nearby potential support at the .8 major psychological level!
NZD/USD Is Finding Support - August 21, 2012
By the looks of the chart, it seems that NZD/USD is finding support at the 38.2% FIBO. That's a former resistance level at .805, which could be ready to hold as support for the pair. Stochastic is still pointing downwards though, suggesting that Kiwi bears might be able to push NZD/USD a little lower. Watch out for the nearby potential support at the .8 major psychological level!
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