4 Apr 2014
NZD/USD indecisive, awaits Nonfarm Payrolls
FXStreet (Guatemala) - Currently, NZD/USD is trading at 0.8538, down -0.05% on the day, having posted a daily high at 0.8564 and low at 0.8530.
NZD/USD had been easing back into slightly more positive territory overnight and away from the recent lows beyond 0.8520, but the 0.8560 mark came with supply at the end of the week and the pair is headed back down testing 0.8540. The markets are eerily quiet in Europe before the US come on board and this feels like we are simply waiting for the result of US jobs data, particularly the Nonfarm Payrolls numbers.
NZD/USD awaits Nonfarm Payrolls
In respect of those, if we see a number of 200K, or there about, this should only support the US dollar in relation to the Feds tapering schedule. Buy the rumour sell the fact doesn’t seem to be taking form currently which might indicate that markets are not entirely convinced that the number will be a good one, but given the ADP result was relatively in line with expectations, earlier in the week, one might expect the Nonfarm payrolls to come in positively in accordance to the Feds targets in terms of their tapering regime.
NZD/USD RSI Neutral
Looking to a daily chart, we see that RSI is neutral at 52.47
The 200 SMA is currently at 0.8550, down from 0.8613 at the last period close, and declining on the hourly NZD/USD chart. Moving with a range bound trend, the exponential average closing price is 0.8552.
NZD/USD Levels (Doji – 4-hour)
Regarding candlestick formations, we can see Doji formation on the 4-hour – an indecisive formation. Spot is presently trading at 0.8540, and next resistance can be seen at 0.8544 (Daily Open), 0.8544 (Weekly Low), 0.8546 (Hourly 20 EMA), 0.8547 (Weekly Classic S1) and 0.8547 (Daily Classic PP). Next support to the downside can be found at 0.8530 (Daily Low), 0.8514 (Yesterday's Low), 0.8511 (Daily Classic S1), 0.8479 (Daily Classic S2) and 0.8443 (Daily Classic S3).
NZD/USD had been easing back into slightly more positive territory overnight and away from the recent lows beyond 0.8520, but the 0.8560 mark came with supply at the end of the week and the pair is headed back down testing 0.8540. The markets are eerily quiet in Europe before the US come on board and this feels like we are simply waiting for the result of US jobs data, particularly the Nonfarm Payrolls numbers.
NZD/USD awaits Nonfarm Payrolls
In respect of those, if we see a number of 200K, or there about, this should only support the US dollar in relation to the Feds tapering schedule. Buy the rumour sell the fact doesn’t seem to be taking form currently which might indicate that markets are not entirely convinced that the number will be a good one, but given the ADP result was relatively in line with expectations, earlier in the week, one might expect the Nonfarm payrolls to come in positively in accordance to the Feds targets in terms of their tapering regime.
NZD/USD RSI Neutral
Looking to a daily chart, we see that RSI is neutral at 52.47
The 200 SMA is currently at 0.8550, down from 0.8613 at the last period close, and declining on the hourly NZD/USD chart. Moving with a range bound trend, the exponential average closing price is 0.8552.
NZD/USD Levels (Doji – 4-hour)
Regarding candlestick formations, we can see Doji formation on the 4-hour – an indecisive formation. Spot is presently trading at 0.8540, and next resistance can be seen at 0.8544 (Daily Open), 0.8544 (Weekly Low), 0.8546 (Hourly 20 EMA), 0.8547 (Weekly Classic S1) and 0.8547 (Daily Classic PP). Next support to the downside can be found at 0.8530 (Daily Low), 0.8514 (Yesterday's Low), 0.8511 (Daily Classic S1), 0.8479 (Daily Classic S2) and 0.8443 (Daily Classic S3).