28 Apr 2015
NZD/USD: Better offered post overnight highs
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7633 with a high of 0.7649 and a low of 0.7631.
NZD/USD had been taunting the downside for the best part of the US session after a score of 0.7665 where supply was met and here we are shuffling lower ahead of Stevens taking on behalf of the RBA which may lead the bird along with its closets counterpart. Meanwhile, New Zealand has its own RBNZ taking the stage a little later on this week.
There is sentiment that this meeting might come with a dovish tone since the drop in y/y inflation readings at just 0.1% and after falling 0.3% in the previous quarter. also this week, US fundamentals will come in most likely be the focus with GDP Q1 and the FOMC and anything less than neutral could harm the greenback.
Technically the price is still in neutral territory having failed a break to the upside towards 0.77. This is psychological level and if broken, then this would be bullish. The April highs would come in to the light while anything dovish from the RBNZ could taunt 0.74 support in to focus as well as the April 1st lows with a test of 0.7390.
NZD/USD had been taunting the downside for the best part of the US session after a score of 0.7665 where supply was met and here we are shuffling lower ahead of Stevens taking on behalf of the RBA which may lead the bird along with its closets counterpart. Meanwhile, New Zealand has its own RBNZ taking the stage a little later on this week.
There is sentiment that this meeting might come with a dovish tone since the drop in y/y inflation readings at just 0.1% and after falling 0.3% in the previous quarter. also this week, US fundamentals will come in most likely be the focus with GDP Q1 and the FOMC and anything less than neutral could harm the greenback.
Technically the price is still in neutral territory having failed a break to the upside towards 0.77. This is psychological level and if broken, then this would be bullish. The April highs would come in to the light while anything dovish from the RBNZ could taunt 0.74 support in to focus as well as the April 1st lows with a test of 0.7390.