23 Jul 2013
NZD/USD edging lower
FXstreet.com (London) - NZD/USD is supported on China’s PM comments.
NZD/USD performed well on the day yesterday and picked up pace throughout NY and in Asia on growth supportive comments from Chinas PM. “The RBNZ OCR Review is Thursday, and given the rise in the NZD and mortgage rates, we believe the Bank will voice a dovish tone to cool things down a little”, said Annette Beacher, Head of Asia-Pacific Research, FX and Rates Strategy at TD Securities. The pair is currently tailing away from the 0.8000 handle to trade at session lows to 0.7980/84.
NZD/USD making a slight reversal
NZD/USD had turned into bullish territory with a move back towards the 0.8000 handle and settling through the 50d ma, targeting 0.8050 and key 0.8135 / SMA100 territory. However the pair has already started to face headwinds at the psychological barrier of the 0.8000 handle. The pair has support from EMA20 at 0.7978 and EMA50 below there at 0.7953, and with RSI 14 at 57, there is still more room to go to the topside yet with momentum indicators in the green. On a daily basis, the SMA200 is a key target at 0.8234.
NZD/USD performed well on the day yesterday and picked up pace throughout NY and in Asia on growth supportive comments from Chinas PM. “The RBNZ OCR Review is Thursday, and given the rise in the NZD and mortgage rates, we believe the Bank will voice a dovish tone to cool things down a little”, said Annette Beacher, Head of Asia-Pacific Research, FX and Rates Strategy at TD Securities. The pair is currently tailing away from the 0.8000 handle to trade at session lows to 0.7980/84.
NZD/USD making a slight reversal
NZD/USD had turned into bullish territory with a move back towards the 0.8000 handle and settling through the 50d ma, targeting 0.8050 and key 0.8135 / SMA100 territory. However the pair has already started to face headwinds at the psychological barrier of the 0.8000 handle. The pair has support from EMA20 at 0.7978 and EMA50 below there at 0.7953, and with RSI 14 at 57, there is still more room to go to the topside yet with momentum indicators in the green. On a daily basis, the SMA200 is a key target at 0.8234.