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Forex: NZD/USD finds bids at 0.8300

The intraday decline of the kiwi dollar found buying interest in the boundaries of the key support at 0.8300 on Thursday, picking up pace to the 0.8330 region so far.

According to I.Spivak, Currency Strategist at DailyFX, “prices are pulling back from resistance in the 0.8460-75 area. Near-term support is in the 0.8315-55 region, with a move below that targeting a rising channel bottom set from late July (now at 0.8283). Alternatively, a break above resistance aims for the August 31 2011 high at 0.8571”.

NZD/USD is now losing 0.95% at 0.8316 with the next support at 0.8297 (daily cloud top).
On the upside, a break above 0.8397 (MA10-21d) would expose 0.8445 (hourly highs Feb.6) and finally 0.8463 (Upper Bollinger).

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