13 Jan 2015
NZD/USD choppy along familiar channel
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7730 with highs of 0.7805 and lows of 0.7712 and 0.67% on the day.
NZD/USD has continued with the theme of offers below the 0.78 handle and making lows of 0.7711. The pair has been left in familiar ranges but trades fragile on the basis of long positions and advances taken back by the bears on the mid point of the 0.78 handle.
Meanwhile, focus will remain with Central Banks while noting that the RBNZ downgraded the interest rate forecast until end of 2015. This week we are light on data until the REINZ House Price Index (MoM) (Dec) which has been a top performer and reflecting a sector that has warranted caution and taming. Technically, short term, 0.7850 stands out within the top side of the clouds room before the 100 DMA upon the 0.79 handle.
NZD/USD has continued with the theme of offers below the 0.78 handle and making lows of 0.7711. The pair has been left in familiar ranges but trades fragile on the basis of long positions and advances taken back by the bears on the mid point of the 0.78 handle.
Meanwhile, focus will remain with Central Banks while noting that the RBNZ downgraded the interest rate forecast until end of 2015. This week we are light on data until the REINZ House Price Index (MoM) (Dec) which has been a top performer and reflecting a sector that has warranted caution and taming. Technically, short term, 0.7850 stands out within the top side of the clouds room before the 100 DMA upon the 0.79 handle.