23 Jan 2014
NZD/USD is still about the RBNZ
FXstreet.com (Guatemala) - The Business PMI in New Zealand printed 56.4 in December, down from 56.7. NZD/USD is slightly offered on the release.
NZD/USD is still much more about the RBNZ and as Jane foley, Strategist at Rabobank noted, there is no argument over the fact that the RBNZ has been positioning itself for a rate hike in the coming months. “The only real uncertainty is whether the RBNZ is confident enough to hike rates at its next policy meeting on January 29 or whether it will give itself a little further time”.
NZD/USD Levels
The 20 DMA is 0.8266, the 50 DMA is 0.8248 and the 200 DMA is 0.8148. RSI (14) reads 46.91. Supports are ascending from 0.8140, 0.8180, 0.8207 and 0.8250. Spot is 0.8306. Resistances are 0.8342, 0.8362, 0.8433 and 0.8446.
NZD/USD is still much more about the RBNZ and as Jane foley, Strategist at Rabobank noted, there is no argument over the fact that the RBNZ has been positioning itself for a rate hike in the coming months. “The only real uncertainty is whether the RBNZ is confident enough to hike rates at its next policy meeting on January 29 or whether it will give itself a little further time”.
NZD/USD Levels
The 20 DMA is 0.8266, the 50 DMA is 0.8248 and the 200 DMA is 0.8148. RSI (14) reads 46.91. Supports are ascending from 0.8140, 0.8180, 0.8207 and 0.8250. Spot is 0.8306. Resistances are 0.8342, 0.8362, 0.8433 and 0.8446.