26 May 2015
NZD/USD trade data boosts FX market activity
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7318 with a high of 0.7321 and a low of 0.7306.
NZD/USD is oscillating around the trade balance data that came out in the green, beating expectations and brings a little bit of movement to an otherwise dead market. The price action was relatively subdued mind you, and only now at time of writing are we moving with any sort of conviction, currently on the bid up through overnight highs and out of the sideways and dull channel.
This week will start to pick up however as we head to the US calendar overnight today. Durable goods come first ahead of home sales and consumer confidence, all of which are relatively key to the data dependent decision makers at the FOMC. Later in the week, jobless claims for the US follow and, for NZ, we will get building permits, home sales and ANZ business confidence data.
Technically, NZD/USD has been a sell on rallies. The pair, however, is starting to consolidate the downside at the supporting zone of 0.7281/00 and May lows. Daily RSI (14) has some to go yet until we are reading over sold with 0.7108 coming as 2011 March low being a psychological level to target on any continued supply that may occur through 0.7200.
NZD/USD is oscillating around the trade balance data that came out in the green, beating expectations and brings a little bit of movement to an otherwise dead market. The price action was relatively subdued mind you, and only now at time of writing are we moving with any sort of conviction, currently on the bid up through overnight highs and out of the sideways and dull channel.
This week will start to pick up however as we head to the US calendar overnight today. Durable goods come first ahead of home sales and consumer confidence, all of which are relatively key to the data dependent decision makers at the FOMC. Later in the week, jobless claims for the US follow and, for NZ, we will get building permits, home sales and ANZ business confidence data.
Technically, NZD/USD has been a sell on rallies. The pair, however, is starting to consolidate the downside at the supporting zone of 0.7281/00 and May lows. Daily RSI (14) has some to go yet until we are reading over sold with 0.7108 coming as 2011 March low being a psychological level to target on any continued supply that may occur through 0.7200.