21 Aug 2013
NZD/USD is heavy at support
FXstreet.com (Barcelona) - NZD/USD dropped from 0.7960 territories to below 0.7920 support before drifting up to open in European markets 0.7930 territory.
NZD/USD currently on the offer again trading with a continued negative bias and remains heavy. The main focus today will be the FOMC minutes, but overnight, NZ recorded net migration of +1980 in July, from +2330 in June. “The 12m cumulative net arrivals rose to +11,000, the highest since Oct 2010, a positive for the economy. Credit card spending eased –0.3% in July, but the y/y rate remained healthy at +4.7%, from +5.4%. Meanwhile, Fitch has come out with the statement that the LVR restrictions announced yesterday and due to commence Oct 1 are likely to be “limited in impact and duration”; we tend to agree,” said research teams at TD Securities.
NZD/USD with a negative bias
NZD/USD is trading to the downside and remains heavy on the European open. The 20 DMA is 0.7990, the 50 DMA is 0.7911 and the 200 DMA is 0.8212. RSI (9) reads 47.94 while supports are ascending from 0.7787, 0.7823, 0.7859. 0.7884. Spot is currently 0.7927 while resistances are 0.8010, 0.8060, 0.8074 and 0.8118
NZD/USD currently on the offer again trading with a continued negative bias and remains heavy. The main focus today will be the FOMC minutes, but overnight, NZ recorded net migration of +1980 in July, from +2330 in June. “The 12m cumulative net arrivals rose to +11,000, the highest since Oct 2010, a positive for the economy. Credit card spending eased –0.3% in July, but the y/y rate remained healthy at +4.7%, from +5.4%. Meanwhile, Fitch has come out with the statement that the LVR restrictions announced yesterday and due to commence Oct 1 are likely to be “limited in impact and duration”; we tend to agree,” said research teams at TD Securities.
NZD/USD with a negative bias
NZD/USD is trading to the downside and remains heavy on the European open. The 20 DMA is 0.7990, the 50 DMA is 0.7911 and the 200 DMA is 0.8212. RSI (9) reads 47.94 while supports are ascending from 0.7787, 0.7823, 0.7859. 0.7884. Spot is currently 0.7927 while resistances are 0.8010, 0.8060, 0.8074 and 0.8118