26 May 2015
NZD/USD 0.7220 support holding bears up
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7230 with a high of 0.7322 and a low of 0.7221.
NZD/USD has been offered while the bears are helped along by the US data in the US session which added to the late supply yesterday taking the bird of its perch. The durable goods was a positive result at 0.5% vs 0.35 expected on -0.2% previous and a number of second tier data, such as Markit PMI's and consumer confidence also printed in the green supporting a rally in the greenback. 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 the March low at 0.7183 and the Feb low at 0.7176 in its sight. Daily RSI (14) at 31 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 below 2015 lows on further supply that may occur below 0.7220 support.
NZD/USD has been offered while the bears are helped along by the US data in the US session which added to the late supply yesterday taking the bird of its perch. The durable goods was a positive result at 0.5% vs 0.35 expected on -0.2% previous and a number of second tier data, such as Markit PMI's and consumer confidence also printed in the green supporting a rally in the greenback. 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 the March low at 0.7183 and the Feb low at 0.7176 in its sight. Daily RSI (14) at 31 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 below 2015 lows on further supply that may occur below 0.7220 support.