Forex: NZD/USD pares losses and returns to opening levels

FXstreet.com (Barcelona) - The NZD/USD has managed to pare its meager losses Friday, having moved up from the 0.8363 level to trade at the 0.8370/01 mark in these moments. At this juncture, the cross is still incurring a marginal loss of -0.01%, following the release of US data.

“The NZD/USD is trading within an extremely tight range below its linear regression indicators. The Relative Strength Index is biased downside however, as we noted in the European Session report, we cannot point out a specific direction as the pair resides above 0.8355. Here on, we maintain neutrality in the U.S. Session.” notes the ICN.com analyst team.

According to the Mataf.net analysts, corrective measures of support lie ahead at 0.8350, then 0.8333, and finally the 0.8312 handle. On the ascension, resistances for the NZD/USD will trigger at 0.8388 onto 0.8406 and ultimately 0.8426.

In the United States, the Reuters/Michigan Consumer Sentiment Index (March) yielded a result of 78.6, beating estimates of only 72.5, and compared with 77.6 previously.