4 Feb 2014
NZD/USD bulls fight their way to the resistance of 0.8100
FXStreet (Moscow) - NZD/USD started the day in blue, and touched the low at 0.8051, but the demand placed around that area helped the pair to restore ground and return to the key resistance of 0.8100, where the upside has stalled as the market awaits news from RBA.
NZD/USD goes where the US dollar leads
NZD/USD failed to close above the resistance of 0.8100 as the US macro data came out worse than expected and pushed US Dollar lower across the board. The currency pair tested the key resistance of 0.8150, but failed to move higher as the upside momentum was capped by anti-risk sentiments. January commodity price index published earlier today touched the record high, and kiwi strengthened as lower commodity prices are welcomed in New Zealand. The RBA rate decision announced later today may have a knock on effect on the pair, as the kiwi may grow against Aussie if the RBA officials sound too dovish. Lacker and Evans from FED are scheduled to speak today during the American hours. Investors will be listening carefully for the hints about further tapering and rate normalization timing. Should they be pretty aggressive, the Dollar may gain ground across the board, which will push the NZD/USD higher to the resistance of 0.8100 and, possibly, 0.8150. The support is seen at 0.8037.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8101, with support below at 0.8062, 0.8042 and 0.8003, with resistance above at 0.8121, 0.8160 and 0.8180. Hourly Moving Averages are bearish, with the 200SMA at 0.8219 and the daily 20EMA at 0.8226. Hourly RSI is neutral at 35.
NZD/USD goes where the US dollar leads
NZD/USD failed to close above the resistance of 0.8100 as the US macro data came out worse than expected and pushed US Dollar lower across the board. The currency pair tested the key resistance of 0.8150, but failed to move higher as the upside momentum was capped by anti-risk sentiments. January commodity price index published earlier today touched the record high, and kiwi strengthened as lower commodity prices are welcomed in New Zealand. The RBA rate decision announced later today may have a knock on effect on the pair, as the kiwi may grow against Aussie if the RBA officials sound too dovish. Lacker and Evans from FED are scheduled to speak today during the American hours. Investors will be listening carefully for the hints about further tapering and rate normalization timing. Should they be pretty aggressive, the Dollar may gain ground across the board, which will push the NZD/USD higher to the resistance of 0.8100 and, possibly, 0.8150. The support is seen at 0.8037.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8101, with support below at 0.8062, 0.8042 and 0.8003, with resistance above at 0.8121, 0.8160 and 0.8180. Hourly Moving Averages are bearish, with the 200SMA at 0.8219 and the daily 20EMA at 0.8226. Hourly RSI is neutral at 35.