4 Jul 2013
NZD/USD outperforming
FXstreet.com (London) - NZD/USD has picked up from 0.7710 lows of yesterday and walked to break 0.7800 overnight.
NZD/USD has dipped below the figure in the European session and is holding in positive territory around 0.7780. It remains sidelined for the time being while its closest neighbour (AUD) has met the lowest level since September 2010. This might leave the Kiwi susceptible to lower levels in profit taking, having rocketed vrs the Aussie, but otherwise we can expect a quiet day with US holidays. Mind you, the curve ball is that the BoE and ECB meet today, and in thin markets, any surprises could mean a volatile afternoon across the board.
NZD/USD range bound
NZD/USD is likely to hold the ranges between 0.7700 – 0.7790, while the pivot offers support at 0.7761 with Ma’s offering a positive bias on a short term basis. RSI however reads in overbought territory at 40 on the daily’s. Otherwise, the pair has broken the descending resistance of the wedge pattern, but not so convincingly and within an overall bear market, broadly speaking.
NZD/USD has dipped below the figure in the European session and is holding in positive territory around 0.7780. It remains sidelined for the time being while its closest neighbour (AUD) has met the lowest level since September 2010. This might leave the Kiwi susceptible to lower levels in profit taking, having rocketed vrs the Aussie, but otherwise we can expect a quiet day with US holidays. Mind you, the curve ball is that the BoE and ECB meet today, and in thin markets, any surprises could mean a volatile afternoon across the board.
NZD/USD range bound
NZD/USD is likely to hold the ranges between 0.7700 – 0.7790, while the pivot offers support at 0.7761 with Ma’s offering a positive bias on a short term basis. RSI however reads in overbought territory at 40 on the daily’s. Otherwise, the pair has broken the descending resistance of the wedge pattern, but not so convincingly and within an overall bear market, broadly speaking.