21 Jul 2014
NZD/USD stuck below tough resistance at 0.8715
FXStreet (Guatemala) - Currently, NZD/USD> is trading at 0.8696, up 0.11% on the day, having posted a daily high at 0.8722 and low at 0.8690.
We have a quiet session with Tokyo out on holiday while the NZD/USD sits at the upper end of last week’s range, albeit losing the 0.87 handle with 0.8715 proving tough resistance, having recovered ground from the lows of 0.8650. Meanwhile, Sean Callow, analyst at Westpac Banking Corporation ABN noted that New Zealand’s June net migration rose to 4270 seasonally adjusted, the strongest reading since Feb 2003. “This series was negative as recently as 2012, with the turnaround reflecting the stronger economy. This reading should be a factor in the expected RBNZ rate hike on Thursday, though we do expect a pause to be signalled”.
NZD/USD Levels
Current price is 0.8697, with resistance ahead at 0.8703 (Daily Open) and 0.8723 (Hourly 100 SMA). Next support to the downside can be found at 0.8684 (Hourly 20 EMA) and 0.8669 (Monthly Low).
We have a quiet session with Tokyo out on holiday while the NZD/USD sits at the upper end of last week’s range, albeit losing the 0.87 handle with 0.8715 proving tough resistance, having recovered ground from the lows of 0.8650. Meanwhile, Sean Callow, analyst at Westpac Banking Corporation ABN noted that New Zealand’s June net migration rose to 4270 seasonally adjusted, the strongest reading since Feb 2003. “This series was negative as recently as 2012, with the turnaround reflecting the stronger economy. This reading should be a factor in the expected RBNZ rate hike on Thursday, though we do expect a pause to be signalled”.
NZD/USD Levels
Current price is 0.8697, with resistance ahead at 0.8703 (Daily Open) and 0.8723 (Hourly 100 SMA). Next support to the downside can be found at 0.8684 (Hourly 20 EMA) and 0.8669 (Monthly Low).