1 Aug 2013
NZD/USD trading towards the pivot
FXstreet.com (London) - NZD/USD is opening European markets at 0.7966/71, slightly below the pivot of 0.7977.
NZD/USD had climbed to 0.8018 yesterday in NA after the FOMC disappointed but it dropped again overnight making a low of 0.7925. The pair has claimed back some ground, boosted by Chinese Manufacturing PMI’s and targets the pivot while bid in Europe. The pair will likely to be driven by the dollar today, as European market will be positioning after that FOMC and also in light of the European Banks meetings, with BoE and ECB due later and accompanying supporting data releases. There are also a number of US data releases there after such as ISM Manufacturing PMI (Jul).
NZD/USD Levels
NZD/USD levels start with the 20d ma at 07908, with the 50d ma at 0.7922 and 200 d ma is at 0.8228. The RSI (9) reads 54.97. Supports ascend from 0.7844, 0.7887, 0.7894, 0.7906. Spot 0.7971. Resistances are 0.8016, 0.8039, 0.8060, 0.8105.
NZD/USD had climbed to 0.8018 yesterday in NA after the FOMC disappointed but it dropped again overnight making a low of 0.7925. The pair has claimed back some ground, boosted by Chinese Manufacturing PMI’s and targets the pivot while bid in Europe. The pair will likely to be driven by the dollar today, as European market will be positioning after that FOMC and also in light of the European Banks meetings, with BoE and ECB due later and accompanying supporting data releases. There are also a number of US data releases there after such as ISM Manufacturing PMI (Jul).
NZD/USD Levels
NZD/USD levels start with the 20d ma at 07908, with the 50d ma at 0.7922 and 200 d ma is at 0.8228. The RSI (9) reads 54.97. Supports ascend from 0.7844, 0.7887, 0.7894, 0.7906. Spot 0.7971. Resistances are 0.8016, 0.8039, 0.8060, 0.8105.