14 Oct 2013
NZD/USD on Capital Hill?
FXstreet.com (London) - NZD/USD has scored fresh highs at 0.8382 and continues to move away from lows of 0.8305 while much of the focus remain son Capital Hill.
Research teams at TD Securities said the most recent rhetoric on Capitol Hill should be viewed through a lens of cautious optimism. “While Speaker Boehner’s proposal to meet President Obama and the Democrats half way in negotiations is certainly a step in the right direction given the level of political gridlock, a quick resolution is far from baked in. The key takeaway from recent developments is that a short-term stay of execution on the debt ceiling appears to be the most politically palatable “solution.” Additionally, the risk of outright default has moved from very low to near-zero as Congress remains better positioned for a successful resolution than at any point in months. European markets are reflecting this cautious optimism with equities up marginally (although less than yesterday) while the euro, AUD and NZD are all a little stronger on the day.
NZD/USD Levels
The 20 DMA is 0.8300, the 50 DMA is 0.8084 and the 200 DMA is 0.8182. RSI (14) reads 61.74. Supports are ascending from 0.8232, 0.8260 and 0.8319. Spot is currently 0.8374 while resistances are 0.8390, 0.8436 and 0.8461.
Research teams at TD Securities said the most recent rhetoric on Capitol Hill should be viewed through a lens of cautious optimism. “While Speaker Boehner’s proposal to meet President Obama and the Democrats half way in negotiations is certainly a step in the right direction given the level of political gridlock, a quick resolution is far from baked in. The key takeaway from recent developments is that a short-term stay of execution on the debt ceiling appears to be the most politically palatable “solution.” Additionally, the risk of outright default has moved from very low to near-zero as Congress remains better positioned for a successful resolution than at any point in months. European markets are reflecting this cautious optimism with equities up marginally (although less than yesterday) while the euro, AUD and NZD are all a little stronger on the day.
NZD/USD Levels
The 20 DMA is 0.8300, the 50 DMA is 0.8084 and the 200 DMA is 0.8182. RSI (14) reads 61.74. Supports are ascending from 0.8232, 0.8260 and 0.8319. Spot is currently 0.8374 while resistances are 0.8390, 0.8436 and 0.8461.