22 Oct 2013
NZD/USD finds supply at 0.8520/40
FXstreet.com (London) - NZD/USD has stalled ahead of May 2013 highs, finding supply at 0.8520/40 after a broad based dollar sell-off earlier in the session.
NZD/USD now has a relatively quiet time ahead on the calendar although research teams at TD Securities expect another nasty trade balance on Thursday with September being seasonally weak for dairy exports but strong for imports. “TD forecasts -$NZ700m with upside risk if imports stay elevated. The RBNZ OCR Review is delayed to Oct 31, not the ‘usual’ timing of Thursday Oct 24”.
NZD/USD Levels
The 20 DMA is 0.8335, the 50 DMA is 0.8141 and the 200 DMA is 0.8184. RSI (14) reads 74.61. Supports are ascending from 0.8413, 0.8430 and 0.8451. Spot is currently 0.8519 while resistances are 0.8558, 0.8587 and 0.8643.
NZD/USD now has a relatively quiet time ahead on the calendar although research teams at TD Securities expect another nasty trade balance on Thursday with September being seasonally weak for dairy exports but strong for imports. “TD forecasts -$NZ700m with upside risk if imports stay elevated. The RBNZ OCR Review is delayed to Oct 31, not the ‘usual’ timing of Thursday Oct 24”.
NZD/USD Levels
The 20 DMA is 0.8335, the 50 DMA is 0.8141 and the 200 DMA is 0.8184. RSI (14) reads 74.61. Supports are ascending from 0.8413, 0.8430 and 0.8451. Spot is currently 0.8519 while resistances are 0.8558, 0.8587 and 0.8643.