19 Jun 2014
NZD/USD slightly bullish
FXStreet (Guatemala) - NZD/USD is trading at 0.8711, down -0.24% on the day, having posted a daily high at 0.8737 and low at 0.8710.
NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. The greenback is on the backfoot as a result of the FOMC and analysts at Rabobank noted that the FOMC tapered its asset purchase program by another $10bn, evenly split between US treasuries and agency MBS. “This will reduce the purchases of treasuries in July to $20bn (from $25bn) and the purchases of agency MBS to $15bn (from $20bn). This will bring the total monthly amount of asset purchases down to $35bn, from $45bn”. “However, tapering is no longer a major market mover and unless there is a major change to the economic outlook, the pace of tapering is expected to remain $10bn/meeting. Instead, attention has shifted to the hiking cycle”.
NZD/USD Levels
Spot is presently trading at 0.8712, and next resistance can be seen at 0.8727 (Daily Classic R3), 0.8732 (Daily Open), 0.8737 (Daily High), 0.8737 (Yesterday's High) and 0.8741 (Annual High). Next support to the downside can be found at 0.8710 (Daily Low), 0.8706 (Daily Classic R2), 0.8694 (Hourly 20 EMA), 0.8688 (Monthly High) and 0.8688 (Weekly High).
NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. The greenback is on the backfoot as a result of the FOMC and analysts at Rabobank noted that the FOMC tapered its asset purchase program by another $10bn, evenly split between US treasuries and agency MBS. “This will reduce the purchases of treasuries in July to $20bn (from $25bn) and the purchases of agency MBS to $15bn (from $20bn). This will bring the total monthly amount of asset purchases down to $35bn, from $45bn”. “However, tapering is no longer a major market mover and unless there is a major change to the economic outlook, the pace of tapering is expected to remain $10bn/meeting. Instead, attention has shifted to the hiking cycle”.
NZD/USD Levels
Spot is presently trading at 0.8712, and next resistance can be seen at 0.8727 (Daily Classic R3), 0.8732 (Daily Open), 0.8737 (Daily High), 0.8737 (Yesterday's High) and 0.8741 (Annual High). Next support to the downside can be found at 0.8710 (Daily Low), 0.8706 (Daily Classic R2), 0.8694 (Hourly 20 EMA), 0.8688 (Monthly High) and 0.8688 (Weekly High).