6 Dec 2013
NZD/USD taking back the pivot
FXstreet.com (London) - NZD/USD is moving in on the resistance and highs for the week, but there is little conviction through the 0.82 handle as it stands.
The marquee event is the RBNZ while Q3 manufacturing is the last puzzle piece for GDP. Meanwhile, the release of the stronger than expected ADP employment survey from the US yesterday has further heightened investor expectations that the Fed may begin to taper QE earlier at the 17th-18th December or 28th-29th January FOMC meetings. Lee Hardman at The Bank of Tokyo-Mitsubishi UFJ said, “The survey highlights that the labour market has remained surprisingly resilient to the government shutdown and debt ceiling uncertainty. The release of the Fed’s Beige Book overnight also revealed that “hiring showed a modest increase or was unchanged across the country””. Next up, NFP’s tomorrow!
NZD/USD Levels
The 20 DMA is 0.8237, the 50 DMA is 0.8297 and the 200 DMA is 0.8165. RSI (14) reads 56.57. Supports are ascending from 0.8112, 0.8130, 0.8158, 0.8166 and 0.8208. Spot is 0.8220while resistances are 0.8243, 0.8260, 0.8266 and 0.8284.
The marquee event is the RBNZ while Q3 manufacturing is the last puzzle piece for GDP. Meanwhile, the release of the stronger than expected ADP employment survey from the US yesterday has further heightened investor expectations that the Fed may begin to taper QE earlier at the 17th-18th December or 28th-29th January FOMC meetings. Lee Hardman at The Bank of Tokyo-Mitsubishi UFJ said, “The survey highlights that the labour market has remained surprisingly resilient to the government shutdown and debt ceiling uncertainty. The release of the Fed’s Beige Book overnight also revealed that “hiring showed a modest increase or was unchanged across the country””. Next up, NFP’s tomorrow!
NZD/USD Levels
The 20 DMA is 0.8237, the 50 DMA is 0.8297 and the 200 DMA is 0.8165. RSI (14) reads 56.57. Supports are ascending from 0.8112, 0.8130, 0.8158, 0.8166 and 0.8208. Spot is 0.8220while resistances are 0.8243, 0.8260, 0.8266 and 0.8284.