24 Oct 2013
NZD/USD positives not enough
FXstreet.com (London) - NZD/USD come under pressure for much of yesterday until decent trade numbers gave the pair a lift back above 0.8400.
Research teams at TD Securities said, “Sep trade deficit a tiny -$NZ199m due to buoyant exports and lower imports. Usually, lower imports is a ‘concern’ but in this case follows chunky Jul/Aug outcomes. This print saved an otherwise ugly net trade qtr, and we expect the current account deficit to shrink from -4.3% to -3.9% of GDP in Q3. NZD positive”.
However, the pair has since fallen through yesterdays support at 0.8350 and scored a low of 0.8320.
NZD/USD Levels
The 20 DMA is 0.8354, the 50 DMA is 0.8159 and the 200 DMA is 0.8184. RSI (14) reads 38.85. Supports are ascending from 0.8268, 0.8280 and 0.8328. Spot is currently 0.8352 while resistances are 0.8436, 0.8478, 0.8518, 0.8544 and 0.8558.
Research teams at TD Securities said, “Sep trade deficit a tiny -$NZ199m due to buoyant exports and lower imports. Usually, lower imports is a ‘concern’ but in this case follows chunky Jul/Aug outcomes. This print saved an otherwise ugly net trade qtr, and we expect the current account deficit to shrink from -4.3% to -3.9% of GDP in Q3. NZD positive”.
However, the pair has since fallen through yesterdays support at 0.8350 and scored a low of 0.8320.
NZD/USD Levels
The 20 DMA is 0.8354, the 50 DMA is 0.8159 and the 200 DMA is 0.8184. RSI (14) reads 38.85. Supports are ascending from 0.8268, 0.8280 and 0.8328. Spot is currently 0.8352 while resistances are 0.8436, 0.8478, 0.8518, 0.8544 and 0.8558.