2 Sep 2013
NZD/USD capped 0.7835
FXstreet.com (NA) - USD/NZD is offered in NA having been capped at a high of 0.7835 from the gap overnight.
NZD/USD jumped from 0.7740 resistance overnight gaining a big figure. In New Zealand, the terms of trade jumped +4.9% q/q, which beat the consensus and the expectations for +3.8%, following a +4.1% increase in Q1. Meanwhile, this week, the US payrolls are in focus and will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.”
NZD/USD positive bias
NZD/USD has gapped in the charts, and broken through the upside of the falling wedge formation. The NZD/USD has the 20 DMA at .7919, the 50 DMA at .7889 and the 200 DMA is at .8198. RSI (14) reads 58.65. Supports are ascending from .7721, .7764, .7797, and .7813. Spot is currently .7804 while resistances are coming as .7820, 7835/45 and .7859.
NZD/USD jumped from 0.7740 resistance overnight gaining a big figure. In New Zealand, the terms of trade jumped +4.9% q/q, which beat the consensus and the expectations for +3.8%, following a +4.1% increase in Q1. Meanwhile, this week, the US payrolls are in focus and will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.”
NZD/USD positive bias
NZD/USD has gapped in the charts, and broken through the upside of the falling wedge formation. The NZD/USD has the 20 DMA at .7919, the 50 DMA at .7889 and the 200 DMA is at .8198. RSI (14) reads 58.65. Supports are ascending from .7721, .7764, .7797, and .7813. Spot is currently .7804 while resistances are coming as .7820, 7835/45 and .7859.