12 Feb 2014
NZD/USD dropping half a big figure
FXStreet (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital explained that Conditions during the London morning were once again supportive of ‘risk’, following Yellen yesterday and surprisingly good Chinese data overnight which the bird was trying to find some support on in Asia.
However, NZD/USD has dropped and drifted, dropped and drifted again in London and NY and is weighing in a sub 0.8320 currently from levels around 0.8370 the high. From the calendar, Prashant Newnaha, Asia-Pacific Macro Strategist, FX and Rates Strategy at TD Securities noted, “Jan Card Spending Retail –0.5% vs 0.6% prior; Jan Total Card Spending –0.1% vs +1% prior (these figures are a modest respite after an extremely strong H2 2013)”. He went onto to mention that second tier data suite are unlikely to garner much attention. “But keep an eye on Jan Non resident NZ bond holdings Fri (prior 65.1%)”.
NZD/USD Levels
The 20 DMA is 0.8252, the 50 DMA is 0.8247 and the 200 DMA is 0.8129. RSI (14) reads 43.83. Supports are ascending from 0.8250, 0.8264, 0.8292, 0.8304. Spot is 0.8315 while resistances are 0.8362, 0.8394, 0.8433 and 0.8446.
However, NZD/USD has dropped and drifted, dropped and drifted again in London and NY and is weighing in a sub 0.8320 currently from levels around 0.8370 the high. From the calendar, Prashant Newnaha, Asia-Pacific Macro Strategist, FX and Rates Strategy at TD Securities noted, “Jan Card Spending Retail –0.5% vs 0.6% prior; Jan Total Card Spending –0.1% vs +1% prior (these figures are a modest respite after an extremely strong H2 2013)”. He went onto to mention that second tier data suite are unlikely to garner much attention. “But keep an eye on Jan Non resident NZ bond holdings Fri (prior 65.1%)”.
NZD/USD Levels
The 20 DMA is 0.8252, the 50 DMA is 0.8247 and the 200 DMA is 0.8129. RSI (14) reads 43.83. Supports are ascending from 0.8250, 0.8264, 0.8292, 0.8304. Spot is 0.8315 while resistances are 0.8362, 0.8394, 0.8433 and 0.8446.