7 May 2014
Ebb tide takes NZD/USD below 0.8700
FXStreet (Moscow) - NZD/USD in on the retreat on Wednesday as the pair opened at 0.8740 and went all the way down to 0.8691
Kiwi goes stratospheric
NZD/USD was one of the best performers on Tuesday as the pair spiked to new multi-year highs on the back of broad band USD selling. New Zealand employment data came out weaker than it was expected, but the downside NZD/USD correction from strongly overbought levels was triggered by RBNZ officials warning that the central bank might intervent to prevent further NZD strengthening. Later during the day NZD/USD movements will be shaped by overall USD sentiments. Fed’s head Janet Yellen is speaking today, so expect another wave of volatility. From the technical point of view, the upside may be limited by 0.8750, while the support is seen at 0.8680, followed by 0.8750.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8633, with support below at 0.8684, 0.8628 and 0.8579, with resistance above at 0.8789, 0.8838 and 0.8894 Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8616 and the daily 20EMA at 0.8620. Hourly RSI is bearish at 39.
Kiwi goes stratospheric
NZD/USD was one of the best performers on Tuesday as the pair spiked to new multi-year highs on the back of broad band USD selling. New Zealand employment data came out weaker than it was expected, but the downside NZD/USD correction from strongly overbought levels was triggered by RBNZ officials warning that the central bank might intervent to prevent further NZD strengthening. Later during the day NZD/USD movements will be shaped by overall USD sentiments. Fed’s head Janet Yellen is speaking today, so expect another wave of volatility. From the technical point of view, the upside may be limited by 0.8750, while the support is seen at 0.8680, followed by 0.8750.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8633, with support below at 0.8684, 0.8628 and 0.8579, with resistance above at 0.8789, 0.8838 and 0.8894 Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8616 and the daily 20EMA at 0.8620. Hourly RSI is bearish at 39.