Forex: NZD/USD trading positively above 0.8400

FXstreet.com (Barcelona) - The NZD/USD has recovered the 0.8400 level despite a brief stumble below this handle (0.8395 intraday low) Monday. As of European trading, the pair is now firmly entrenched in positive territory, settling at 0.8421/23 during a quiet morning – the cross is currently recording a +0.22% advance above it’s opening.

Briefing the technical levels, the Mataf.net analyst team identifies the next short-term resistances for the NZD/USD at 0.8470, onto 0.8526, and ultimately 0.8561. Conversely, a paring of gains will result in a testing of supports at 0.8379, ahead of 0.8344, and finally 0.8288.

According to the Technical Analyst Team at ICN.com, “The NZD/USD's stability above 0.8415 is a positive catalyst, as it signals the completion of the bearish correction, and as a result we believe we are ahead of a new bullish attempt during this week.”