22 Jul 2014
NZD/USD stopped breathing at 0.8677
FXStreet (Moscow) - NZD/USD is practically paralyzed in Asia; the pair barely moves as RBNZ monetary policy decision looms large.
Nowhere to hurry
No positive daily close followed doji formation on NZD/USD daily chart, but the picture is still interesting. The pair finished Monday in red, but still higher than Friday NY close (0.8677 against 0.8665). It thickens the fog of uncertainty that cover future kiwi direction. Most likely, NZD/USD will be sitting in a tight range ahead of RBNZ interest rate decision scheduled on Thursday. RBNZ deputy Governor speech later today might trigger some volatility, if he dares to hint on rate decision. The key resistance is seen at 0.8700, while the support lies at 0.8649.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8680, and next resistance can be seen at 0.8685 (Yesterday's Low), 0.8688 (Daily Open), 0.8689 (Hourly 20 EMA), 0.8694 (Daily High) and 0.8695 (Hourly 100 SMA).
Support below can be found at 0.8675 (Daily Classic S1), 0.8671 (Daily Low), 0.8669 (Monthly Low), 0.8669 (Weekly Low) and 0.8662 (Daily Classic S2).
Nowhere to hurry
No positive daily close followed doji formation on NZD/USD daily chart, but the picture is still interesting. The pair finished Monday in red, but still higher than Friday NY close (0.8677 against 0.8665). It thickens the fog of uncertainty that cover future kiwi direction. Most likely, NZD/USD will be sitting in a tight range ahead of RBNZ interest rate decision scheduled on Thursday. RBNZ deputy Governor speech later today might trigger some volatility, if he dares to hint on rate decision. The key resistance is seen at 0.8700, while the support lies at 0.8649.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8680, and next resistance can be seen at 0.8685 (Yesterday's Low), 0.8688 (Daily Open), 0.8689 (Hourly 20 EMA), 0.8694 (Daily High) and 0.8695 (Hourly 100 SMA).
Support below can be found at 0.8675 (Daily Classic S1), 0.8671 (Daily Low), 0.8669 (Monthly Low), 0.8669 (Weekly Low) and 0.8662 (Daily Classic S2).