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NZD/USD, struggles at critical juncture below 0.78 zone

FXstreet.com (Chicago) – NZD/USD extends correction price action after tentatively exhausting bullish pressure that sent the pair above 0.78 zone momentarily.

US home sales data disappoints

Price action reveals flat gains after an impressive reversal after downward move throughout the Asia and European sessions. US housing data disappointed with pending home sales at -1.3% vs. -0.4% and estimates at 0.2%. Although Fed’s tapering continues to linger in the minds of market participants, the topic of interest remains the retaliation of the US and its allies against the Syrian government.

NZD/USD Technical Levels

Technically speaking, the pair trades at 0.7795 between supports at …read more