15 Jan 2014
NZD/USD staling?
FXstreet.com (Guatemala) - NZD/USD is attracting bids on 0.8340 and the demand there is stalling the descending trend from above 0.8420.
NZD/USD caught a bounce through 0.8360 but the technical are still offering a bearish bias. However, Jane Foley, Senior Currency Strategist at Rabobank said, “It is possible that the RBNZ could hike interest rates as soon as April, however, the strength of the NZD, the outlook for household debt and the trajectory of the CPI index will be crucial in determining how soon the rate hike is”. In the meantime, the calendar today is light on news except that we will get the Feds Beige Book a little later and post the dismal Non Farm Payrolls data, markets are ears to the ground on this one.
NZD/USD Levels
The 20 DMA is 0.8237, the 50 DMA is 0.8245 and the 200 DMA is 0.8154. RSI (14) reads 46.18. Supports are ascending from 0.8207, 0.8232, 0.8284 and 0.8315. Spot is 0.8346 with resistances at 0.8345, 0.8433 0.8446 0.8518 and 0.8544.
NZD/USD caught a bounce through 0.8360 but the technical are still offering a bearish bias. However, Jane Foley, Senior Currency Strategist at Rabobank said, “It is possible that the RBNZ could hike interest rates as soon as April, however, the strength of the NZD, the outlook for household debt and the trajectory of the CPI index will be crucial in determining how soon the rate hike is”. In the meantime, the calendar today is light on news except that we will get the Feds Beige Book a little later and post the dismal Non Farm Payrolls data, markets are ears to the ground on this one.
NZD/USD Levels
The 20 DMA is 0.8237, the 50 DMA is 0.8245 and the 200 DMA is 0.8154. RSI (14) reads 46.18. Supports are ascending from 0.8207, 0.8232, 0.8284 and 0.8315. Spot is 0.8346 with resistances at 0.8345, 0.8433 0.8446 0.8518 and 0.8544.