22 Dec 2014
NZD/USD contained by 55 DMA
FXStreet (Guatemala) - NZD/USD has seen some early movement and sticks extending outside of the regular range have marked a new low at 0.7729.
In general, the NZD is outperforming in comparison to the competition vs the greenback as the economy has one of the few Central Banks with an actual tightening bias. However, the main theme stays with the US dollar scoring new highs on the DXY while a sell on rallies seems to be the feature of the 0.7788 resistance level at the 55d MA.
For the rest of the year, the calendar is dominated with US data although we will await the Nov trade deficit (Tue) which analysts at TD Securities explained that it is expected to narrow from -$NZ909m to -$NZ500m as bulky capital goods imports drop out. Meanwhile, support is evident here at 0.7725 and below there comes 0.7680.
In general, the NZD is outperforming in comparison to the competition vs the greenback as the economy has one of the few Central Banks with an actual tightening bias. However, the main theme stays with the US dollar scoring new highs on the DXY while a sell on rallies seems to be the feature of the 0.7788 resistance level at the 55d MA.
For the rest of the year, the calendar is dominated with US data although we will await the Nov trade deficit (Tue) which analysts at TD Securities explained that it is expected to narrow from -$NZ909m to -$NZ500m as bulky capital goods imports drop out. Meanwhile, support is evident here at 0.7725 and below there comes 0.7680.