10 Jul 2013
NZD/USD spikes to 0.7870 on NZFinMin headlines
FXstreet.com (Barcelona) - The NZD/USD exchange rate has been given a boost by market participants, currently at 0.7855 off a session high of 0.7871.
NZ FinMin catalyst for Kiwi strength
The New Zealand Finance Minister Mr. English crossed the wires saying "Rates will eventually rise, matter of timing", while adding "RBNZ rate rise could lead to higher NZ dollar."
NZD/USD technical outlook
According to Jim Langlands, Founder at FXCharts in Australia, "NZD/USD remains within the channel where resistance at 0.7895/0.7900 should prove strong although if we break above the Fibo resistance at 0.7910, we could see a fairly sharp rise towards 0.8000."
NZ FinMin catalyst for Kiwi strength
The New Zealand Finance Minister Mr. English crossed the wires saying "Rates will eventually rise, matter of timing", while adding "RBNZ rate rise could lead to higher NZ dollar."
NZD/USD technical outlook
According to Jim Langlands, Founder at FXCharts in Australia, "NZD/USD remains within the channel where resistance at 0.7895/0.7900 should prove strong although if we break above the Fibo resistance at 0.7910, we could see a fairly sharp rise towards 0.8000."