25 Jul 2013
NZD/USD trading at 0.7960 region after RBNZ decision
FXstreet.com (New York) - The NZD/USD foreign exchange rate jumped higher Thursday morning on the heels of the RBNZ decision.
In New Zealand, the RBNZ interest rate was held at 2.5%, which matched consensus expectations.
NZD/USD strategic bias
In these moments, the NZD/USD is now operating at 0.7961 Thursday morning, securing a gain of +0.25% off its opening during Asian trading. Technically speaking, the pair will face calculated support at 0.7934 (55-day MA), ahead of 0.7926 (50-day SMA), and 0.7906 (July 24 low). On the ascension, the NZD/USD will face resistance at 0.7981 (July 19 high), onto 0.8007 (July 24 high).
According to the Technical Analyst Team at ICN.com, “The NZD/USD’s stabilized above the 50-day SMA, and retreated quickly below previous support at 0.7955, however despite this downtrend, the bullish breakout is still valid.”
In New Zealand, the RBNZ interest rate was held at 2.5%, which matched consensus expectations.
NZD/USD strategic bias
In these moments, the NZD/USD is now operating at 0.7961 Thursday morning, securing a gain of +0.25% off its opening during Asian trading. Technically speaking, the pair will face calculated support at 0.7934 (55-day MA), ahead of 0.7926 (50-day SMA), and 0.7906 (July 24 low). On the ascension, the NZD/USD will face resistance at 0.7981 (July 19 high), onto 0.8007 (July 24 high).
According to the Technical Analyst Team at ICN.com, “The NZD/USD’s stabilized above the 50-day SMA, and retreated quickly below previous support at 0.7955, however despite this downtrend, the bullish breakout is still valid.”