6 Feb 2014
NZD/USD showed a card through 0.8240
FXStreet (Guatemala) - NZD/USD has reverted back to the 0.8220’s after a brief unexplained spike above the ‘normal’ trading range.
NZD/USD has traded on the bid for the best part of the session since the drop from 0.8225 to 0.8190 and is continuing on the bid with EMA’s offering a bullish bias and RSI allowing room for further gains ahead of positioning for Non Farm Payrolls at the end of the week.. Meanwhile, Strategists at BNZ explained that global risk aversion presents greatest risk to 0.8000-0.8400 range. “Domestic fundamentals supportive near-term along with expected rate rise from RBNZ in March…NZD/USD to trade above 0.8000 in H1, but decline to 0.7700 by year-end”.
NZD/USD Levels
The 20 DMA is 0.8264, the 50 DMA is 0.8237 and the 200 DMA is 08135. Supports are ascending from 0.8052, 0.8100, 0.8137 and 0.8163. Spot is 0.8227 while resistances are 0.8305, 0.8346, 0.8362 and 0.8433.
NZD/USD has traded on the bid for the best part of the session since the drop from 0.8225 to 0.8190 and is continuing on the bid with EMA’s offering a bullish bias and RSI allowing room for further gains ahead of positioning for Non Farm Payrolls at the end of the week.. Meanwhile, Strategists at BNZ explained that global risk aversion presents greatest risk to 0.8000-0.8400 range. “Domestic fundamentals supportive near-term along with expected rate rise from RBNZ in March…NZD/USD to trade above 0.8000 in H1, but decline to 0.7700 by year-end”.
NZD/USD Levels
The 20 DMA is 0.8264, the 50 DMA is 0.8237 and the 200 DMA is 08135. Supports are ascending from 0.8052, 0.8100, 0.8137 and 0.8163. Spot is 0.8227 while resistances are 0.8305, 0.8346, 0.8362 and 0.8433.