9 May 2014
NZD/USD resting up on a down week
FXStreet (Guatemala) - NZD/USD is trading at 0.8624, down -0.26% on the day, having posted a daily high at 0.8654 and low at 0.8613.
NZD/USD is taking a breather on its decent at these levels with Asia finished for the week and the data behind us, so to speak. Meanwhile, RBS strategists explained that it's worth reiterating how weaker than expected NZ retail sales data provides more reason to think RBNZ won't follow through with a rate rise in June. “Our sell zone on NZD/USD is 0.87-0.90 for huge multi month declines”. However, the strategists also went onto suggest that strengthening data in the US paired with a still credibly dovish Fed plays positive for carry currencies more broadly.
NZD/USD Levels
Current price is 0.8625, with resistance ahead at 0.8626 (Daily 20 SMA), 0.8640 (Hourly 20 EMA), 0.8641 (Hourly 200 SMA), 0.8646 (Daily Open) and 0.8647 (Weekly Low). Next support to the downside can be found at 0.8625 (Yesterday's Low), 0.8624 (Daily Classic S1), 0.8613 (Daily Low), 0.8612 (Weekly Classic PP) and 0.8600 (Daily Classic S2).
NZD chart formations
Looking at price patterns, we can see a Doji 1-hour candlestick formation.
NZD/USD is taking a breather on its decent at these levels with Asia finished for the week and the data behind us, so to speak. Meanwhile, RBS strategists explained that it's worth reiterating how weaker than expected NZ retail sales data provides more reason to think RBNZ won't follow through with a rate rise in June. “Our sell zone on NZD/USD is 0.87-0.90 for huge multi month declines”. However, the strategists also went onto suggest that strengthening data in the US paired with a still credibly dovish Fed plays positive for carry currencies more broadly.
NZD/USD Levels
Current price is 0.8625, with resistance ahead at 0.8626 (Daily 20 SMA), 0.8640 (Hourly 20 EMA), 0.8641 (Hourly 200 SMA), 0.8646 (Daily Open) and 0.8647 (Weekly Low). Next support to the downside can be found at 0.8625 (Yesterday's Low), 0.8624 (Daily Classic S1), 0.8613 (Daily Low), 0.8612 (Weekly Classic PP) and 0.8600 (Daily Classic S2).
NZD chart formations
Looking at price patterns, we can see a Doji 1-hour candlestick formation.