29 Apr 2014
NZD/USD is pressing on the lows and heavy
FXStreet (Guatemala) - NZD/USD is trading at 0.8523, down -0.15% on the day, having posted a daily high at 0.8546 and low at 0.8520.
NZD/USD is trading on the downside, turning towards the 0.85 handle with 0.8520 being tested currently. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
NZD/USD faces plenty of US data
The week will pick up as the US data comes on line with plenty to chew on. Strategists at Rabobank noted that we have US consumer confidence for April, which they said is expected to edge up slightly from 82.3 to 83.2, and is likely to be the day’s major market mover. “The next scheduled FOMC meeting also starts”. “Yet is notable that the economy is finally picking up, and latest economic readings had been far from enough to interrupt the $10 billion cut of facilities as planned. Therefore, the most likely scenario is another cut down to $45B, The market will most probably show little reactions to the news as the cut along with the unknown date of rate hikes is already priced in," explained Valeria Bednarik - Chief Analyst with FXStreet.
NZD/USD Levels
Spot is presently trading at 0.8525, and next resistance can be seen at 0.8538 (Daily Open), 0.8539 (Weekly Classic S1), 0.8544 (Monthly Low), 0.8546 (Hourly 20 EMA) and 0.8546 (Daily High). Support below can be found at 0.8525 (Yesterday's Low), 0.8520 (Daily Low), 0.8513 (Daily Classic S1), 0.8496 (Weekly Classic S2) and 0.8487 (Daily Classic S2).
NZD/USD is trading on the downside, turning towards the 0.85 handle with 0.8520 being tested currently. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
NZD/USD faces plenty of US data
The week will pick up as the US data comes on line with plenty to chew on. Strategists at Rabobank noted that we have US consumer confidence for April, which they said is expected to edge up slightly from 82.3 to 83.2, and is likely to be the day’s major market mover. “The next scheduled FOMC meeting also starts”. “Yet is notable that the economy is finally picking up, and latest economic readings had been far from enough to interrupt the $10 billion cut of facilities as planned. Therefore, the most likely scenario is another cut down to $45B, The market will most probably show little reactions to the news as the cut along with the unknown date of rate hikes is already priced in," explained Valeria Bednarik - Chief Analyst with FXStreet.
NZD/USD Levels
Spot is presently trading at 0.8525, and next resistance can be seen at 0.8538 (Daily Open), 0.8539 (Weekly Classic S1), 0.8544 (Monthly Low), 0.8546 (Hourly 20 EMA) and 0.8546 (Daily High). Support below can be found at 0.8525 (Yesterday's Low), 0.8520 (Daily Low), 0.8513 (Daily Classic S1), 0.8496 (Weekly Classic S2) and 0.8487 (Daily Classic S2).