5 May 2014
NZD/USD has 0.87 handle in range
FXStreet (Guatemala) - NZD/USD is trading at 0.8680, up 0.40% on the day, having posted a daily high at 0.8688 and low at 0.8648.
NZD/USD continues to pressure the upside heading onwards to perhaps claim the 0.87 handle? Meanwhile, US data today was in fact supportive of a stronger US dollar outlook with Markit Services PMI (April) and ISM Non Manufacturing (April) beating expectations. There has been no data for the pair thus far from New Zealand, but Wednesday brings the NZ labour market update. Also, in respect of recent jobs additions at a breakneck pace, strategists at TD Securities said they pick a more modest +0.4%/qtr lift in Q1, boosting the annual rate to 3.2%/yr, lowering the unemployment rate from 6.0% to 5.9%, with risks towards a lower unemployment rate.
NZD/USD Levels
Current price is 0.8683, with resistance ahead at 0.8688 (Daily High), 0.8707 (Weekly Classic R1), 0.8715 (Daily Classic R2), 0.8716 (Monthly High) and 0.8716 (Annual High). Next support to the downside can be found at 0.8682 (Daily Classic R1), 0.8671 (Yesterday's High), 0.8667 (Hourly 20 EMA), 0.8665 (Daily Open) and 0.8648 (Daily Low).
NZD/USD continues to pressure the upside heading onwards to perhaps claim the 0.87 handle? Meanwhile, US data today was in fact supportive of a stronger US dollar outlook with Markit Services PMI (April) and ISM Non Manufacturing (April) beating expectations. There has been no data for the pair thus far from New Zealand, but Wednesday brings the NZ labour market update. Also, in respect of recent jobs additions at a breakneck pace, strategists at TD Securities said they pick a more modest +0.4%/qtr lift in Q1, boosting the annual rate to 3.2%/yr, lowering the unemployment rate from 6.0% to 5.9%, with risks towards a lower unemployment rate.
NZD/USD Levels
Current price is 0.8683, with resistance ahead at 0.8688 (Daily High), 0.8707 (Weekly Classic R1), 0.8715 (Daily Classic R2), 0.8716 (Monthly High) and 0.8716 (Annual High). Next support to the downside can be found at 0.8682 (Daily Classic R1), 0.8671 (Yesterday's High), 0.8667 (Hourly 20 EMA), 0.8665 (Daily Open) and 0.8648 (Daily Low).