7 Nov 2013
NZD/USD failing at 0.84 handle
FXstreet.com (London) - NZD/USD has failed at 0.8400 and has printed a low of 0.8335.
Despite the strong employment data yesterday from New Zealand, the pair has failed at the psychological level and demand was swamped with supply ahead of the territory in 0.8400. The spotlight today turned to Europe when the ECB cut rates and markets have fled for safety into the USD. At the same time, the economy in the US has improved, with GDP beating expectations 1.9% vs 1.4% for Q3 and 2.8% vs 2.0% consensus annualised for Q3. Further activity in NZD/USD might be subdued now and until tomorrow ahead of further data in the payrolls numbers from the US .
NZD/USD Levels
The 20 DMA is 0.8356, the 50 DMA is 0.8237 and the 200 DMA is 0.8180. RSI (14) reads 36.71. Supports are ascending from 0.8249, 0.8260, 0.8292 and 0.8305. Spot is 0.8359 while resistances are 0.8415, 0.8446, 0.8461 and 0.8478.
Despite the strong employment data yesterday from New Zealand, the pair has failed at the psychological level and demand was swamped with supply ahead of the territory in 0.8400. The spotlight today turned to Europe when the ECB cut rates and markets have fled for safety into the USD. At the same time, the economy in the US has improved, with GDP beating expectations 1.9% vs 1.4% for Q3 and 2.8% vs 2.0% consensus annualised for Q3. Further activity in NZD/USD might be subdued now and until tomorrow ahead of further data in the payrolls numbers from the US .
NZD/USD Levels
The 20 DMA is 0.8356, the 50 DMA is 0.8237 and the 200 DMA is 0.8180. RSI (14) reads 36.71. Supports are ascending from 0.8249, 0.8260, 0.8292 and 0.8305. Spot is 0.8359 while resistances are 0.8415, 0.8446, 0.8461 and 0.8478.