21 Aug 2013
NZD/USD is tumbling against its major counterpart on FOMC and RBNZ
FXstreet.com (Athens) - NZD/USD is sinking today, as besides volatility due to the upcoming FOMC release, there was a dismal announcement by RBNZ.
NZD is sinking across the board; RBNZ place dismal questions to investors
The New Zealand dollar slid 1.1 percent to 0.7979, after the Reserve Bank of New Zealand announced home lending restrictions and said the currency was overvalued. Least but not last, the ‘kiwi’ sank, as U.S. Treasury yields retreated and the timing of the Federal Reserve's reduction in its stimulus efforts remained uncertain.
Technical outlook on NZD/USD
At the time of writing, NZD/USD is trading at 0.7880, down 1.20% and very near its daily low (0.7870). of 130.62, up 0.09%. Danske Bank Analyst suggest that ‘traders should place sell limit orders at 0.7950, with first target being at 0.7823 and the stop-loss being placed at 0.8010. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 0.7870, 0.7854, 0.7837 and resistance at 0.8028, 0.8048 and 0.8068, respectively.
NZD is sinking across the board; RBNZ place dismal questions to investors
The New Zealand dollar slid 1.1 percent to 0.7979, after the Reserve Bank of New Zealand announced home lending restrictions and said the currency was overvalued. Least but not last, the ‘kiwi’ sank, as U.S. Treasury yields retreated and the timing of the Federal Reserve's reduction in its stimulus efforts remained uncertain.
Technical outlook on NZD/USD
At the time of writing, NZD/USD is trading at 0.7880, down 1.20% and very near its daily low (0.7870). of 130.62, up 0.09%. Danske Bank Analyst suggest that ‘traders should place sell limit orders at 0.7950, with first target being at 0.7823 and the stop-loss being placed at 0.8010. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 0.7870, 0.7854, 0.7837 and resistance at 0.8028, 0.8048 and 0.8068, respectively.