19 Dec 2014
NZD/USD testing resistances but lacks follow through
FXStreet (Guatemala) - NZD/USD is trading at 0.7744, down -0.19% on the day, having posted a daily high at 0.7798 and low at 0.7737.
NZD/USD has popped up to challenge the 0.7760 resistance and previous hourly support while commodities are more stable in a less volatile and calmer marketplace with the main driver, oil’s price, starting to affect production of supply as we have seen in the Baker Hughes US oil rig count that dropped to 1875 from 1893. Meanwhile, the NZ is regarded as a resilient economy and prospects for 2015 look positive although the exports will be looking for a more stable price of dairy and improved volumes of orders.
We are well truly into holiday season now and it could be expected for the greenback to ease off a little at this stage, but instead it has rallied in a number of pairs and it would seem that the bird is battling for its position on the 0.77 handle in its final sessions of 2014.
NZD/USD has popped up to challenge the 0.7760 resistance and previous hourly support while commodities are more stable in a less volatile and calmer marketplace with the main driver, oil’s price, starting to affect production of supply as we have seen in the Baker Hughes US oil rig count that dropped to 1875 from 1893. Meanwhile, the NZ is regarded as a resilient economy and prospects for 2015 look positive although the exports will be looking for a more stable price of dairy and improved volumes of orders.
We are well truly into holiday season now and it could be expected for the greenback to ease off a little at this stage, but instead it has rallied in a number of pairs and it would seem that the bird is battling for its position on the 0.77 handle in its final sessions of 2014.