30 Jan 2014
NZD/USD a bad peformer
FXstreet.com (Guatemala) - There have been no surprises from todays price action for the pair given what had been priced into the unit wasn’t reflected by the RBNZ.
The NZD has fared badly post a dovish RBNZ. The market fully expects them to raise rates in March, but the rhetoric didn’t reflect the expectations for a bank that is about to embark on an aggressive tightening cycle.
And that’s what is priced in. They noted some ‘moderation’ in the housing market and were also mixed on global growth. The hawkish pricing can be removed from the curve and as such the pair is offered.
NZD/USD Levels
The 20 DMA is 0.8286, the 50 DMA is 0.8242 and the 200 DMA is 0.8143. RSI (14) reads 51.33. Supports are ascending from 0.8037, 0.8084, 0.8119. Spot is 0.8144, 0.8190, 0.8221, 0.8305, 0.8320 and 0.8346.
The NZD has fared badly post a dovish RBNZ. The market fully expects them to raise rates in March, but the rhetoric didn’t reflect the expectations for a bank that is about to embark on an aggressive tightening cycle.
And that’s what is priced in. They noted some ‘moderation’ in the housing market and were also mixed on global growth. The hawkish pricing can be removed from the curve and as such the pair is offered.
NZD/USD Levels
The 20 DMA is 0.8286, the 50 DMA is 0.8242 and the 200 DMA is 0.8143. RSI (14) reads 51.33. Supports are ascending from 0.8037, 0.8084, 0.8119. Spot is 0.8144, 0.8190, 0.8221, 0.8305, 0.8320 and 0.8346.