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11 Apr 2013
Forex: NZD/USD makes new highs on NZ FinMin remarks
FXstreet.com (Barcelona) - The kiwi just short into marginal new bull trend highs after the New Zealand finance minister Mr. English said chances of higher interest rates is more likely should house price inflation stay at current rate. English added that the country is headed for a budget surplus in 2014/2015, projecting a 20% reduction on debt to 20% by 2020.
Technically, as noted by Chris Moyer, editor at FXstreet.com: "The daily close above previous resistance at 0.8534 (Feb 15th high) is constructive and puts the next major resistance near 0.8600 (psychological level). Further resistance is at 0.8680 (July 2011 high). Initial support comes in at .8567 (9day MA on 1 hour chart), followed by 0.8552 (20day MA on 1 hour chart)."
Technically, as noted by Chris Moyer, editor at FXstreet.com: "The daily close above previous resistance at 0.8534 (Feb 15th high) is constructive and puts the next major resistance near 0.8600 (psychological level). Further resistance is at 0.8680 (July 2011 high). Initial support comes in at .8567 (9day MA on 1 hour chart), followed by 0.8552 (20day MA on 1 hour chart)."