14 Mar 2014
NZD/USD consolidated around 0.8540
FXStreet (Guatemala) - NZD/USD has slowed up and has remained in a consolidation phase for some time around the 0.8540 level post shedding over half a big figure to current levels throughout todays markets.
Keeping with recent developments, the RBNZ increased rates as widely expected and Senior Currency Strategist at Rabobank explained and noted from the accompanying policy statement from the RBNZ, that they described the economic as having “considerable momentum”. “The statement also reiterated warnings that the strength of the NZD is a “headwind to the tradables sector” and that the speed and extent to which the OCR will be raised will depend on economic data and the RBNZ’s “continuing assessment of emerging inflationary pressures””.
NZD/USD Levels
The 20 DMA is 0.8377, the 50 DMA is 0.8310 and the 200 DMA is 0.8154. RSI (14) reads 47.02. Supports are ascending from 0.8435, 0.8455, 0.8492 and 0.8513. Spot is 0.8536, 0.8586, 0.8643, 0.8676 and 0.8733.
Keeping with recent developments, the RBNZ increased rates as widely expected and Senior Currency Strategist at Rabobank explained and noted from the accompanying policy statement from the RBNZ, that they described the economic as having “considerable momentum”. “The statement also reiterated warnings that the strength of the NZD is a “headwind to the tradables sector” and that the speed and extent to which the OCR will be raised will depend on economic data and the RBNZ’s “continuing assessment of emerging inflationary pressures””.
NZD/USD Levels
The 20 DMA is 0.8377, the 50 DMA is 0.8310 and the 200 DMA is 0.8154. RSI (14) reads 47.02. Supports are ascending from 0.8435, 0.8455, 0.8492 and 0.8513. Spot is 0.8536, 0.8586, 0.8643, 0.8676 and 0.8733.