8 Apr 2014
NZD/USD bulls got tired at 0.8630 resistance
FXStreet (Moscow) - NZD/USD stays close to the intraday high set at 0.8636 after opening the session at 0.8603. The bullish momentum has stalled
Will kiwi keep the head on its shoulders?
Kiwi tried to set above 0.8600 but the upside momentum was not sustained on Friday, but the bulls in NZD/USD are not that easily to discourage, that’s why they resumed their attempts and took the pair to current high at 0.8636 early in Asia. Now that the main risk event for NZD - NZIER business sentiment indicator is out of the way (the figure came out at 52 in Q1 against 52 in Q4) - there is nothing fundamentally series that may trigger kiwi movements on the intraday basis. It means that NZD/USD will be left at the mercy of technical trends. Head-and-Shoulder pattern is in the making on daily chart. It will be confirmed if the intraday upside is capped by 0.8640/50 area.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8599, with support below at 0.8583, 0.84562 and 0.8546, with resistance above at 0.8620, 0.8636 and 0.8657. Hourly Moving Averages are bullish, with the 200SMA at 0.8618 and the daily 20EMA at 0.8561. Hourly RSI is bullish at 69.
Will kiwi keep the head on its shoulders?
Kiwi tried to set above 0.8600 but the upside momentum was not sustained on Friday, but the bulls in NZD/USD are not that easily to discourage, that’s why they resumed their attempts and took the pair to current high at 0.8636 early in Asia. Now that the main risk event for NZD - NZIER business sentiment indicator is out of the way (the figure came out at 52 in Q1 against 52 in Q4) - there is nothing fundamentally series that may trigger kiwi movements on the intraday basis. It means that NZD/USD will be left at the mercy of technical trends. Head-and-Shoulder pattern is in the making on daily chart. It will be confirmed if the intraday upside is capped by 0.8640/50 area.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8599, with support below at 0.8583, 0.84562 and 0.8546, with resistance above at 0.8620, 0.8636 and 0.8657. Hourly Moving Averages are bullish, with the 200SMA at 0.8618 and the daily 20EMA at 0.8561. Hourly RSI is bullish at 69.