11 Apr 2014
NZD/USD is again on the rise, 0.87 on tap
FXStreet (Moscow) - NZD/USD is trading around 0.8680 resuming the rise after the morning consolidation around 0.8640 area.
The kiwi in retracement
Kiwi climbed to fresh highs around 0.8740 on the back of better than expected Australia’s strong labor market report. But since that time we saw the pair losing more than 100 pips as the comments from Chinese Premier Li on no near-term stimulus despite signs of downward pressure on growth triggered the wave of profit-taking. However, the pair bottomed around 0.8640, and resumed the rise again posting session high at 0.8680 by the moment. Given the broad weakness of the USD the further move up is not ruled out with initial target at 0.8720 area.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8702, with support below at 0.8657, 0.8633 and 0.8588, with resistance above at 0.8726, 0.8771 and 0.8795. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8628 and the daily 20EMA bullish at 0.8595. Hourly RSI is bullish at 52.
The kiwi in retracement
Kiwi climbed to fresh highs around 0.8740 on the back of better than expected Australia’s strong labor market report. But since that time we saw the pair losing more than 100 pips as the comments from Chinese Premier Li on no near-term stimulus despite signs of downward pressure on growth triggered the wave of profit-taking. However, the pair bottomed around 0.8640, and resumed the rise again posting session high at 0.8680 by the moment. Given the broad weakness of the USD the further move up is not ruled out with initial target at 0.8720 area.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8702, with support below at 0.8657, 0.8633 and 0.8588, with resistance above at 0.8726, 0.8771 and 0.8795. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8628 and the daily 20EMA bullish at 0.8595. Hourly RSI is bullish at 52.