20 Mar 2015
NZD/USD: Bearish bias remains towards 2015 lows
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7429 with a high of 0.7435 and a low of 0.7402.
NZD/USD has been making tracks off the lows on to the 0.74 handle, taking some of the shine out of the greenback after it flexed its muscles despite yesterday's sell-off and short squeeze in the bird.
NZD/USD didn't make it all the way back to the starting blocks of the rally either, and support for the Kiwi came in around 0.7370, around last week's resistance from the minor recovery of the 0.75 handle's downtrend to 0.7320 and 0.7180.
The calendar is light now into the close for the week and markets have digested the outlook for the coming months for the Fed and we will be particularly cautious around data releases for the US economy as a data dependant Fed will be making its moves on the back of maximum employment achieved and progress towards their 2% inflation target. Technically, we are back into similar territory and the near term levels remain with 0.7280 as support ahead of 2015 lows at 0.7176, trading with a bearish bias in the broader sense of the longer term trend.
NZD/USD has been making tracks off the lows on to the 0.74 handle, taking some of the shine out of the greenback after it flexed its muscles despite yesterday's sell-off and short squeeze in the bird.
NZD/USD didn't make it all the way back to the starting blocks of the rally either, and support for the Kiwi came in around 0.7370, around last week's resistance from the minor recovery of the 0.75 handle's downtrend to 0.7320 and 0.7180.
The calendar is light now into the close for the week and markets have digested the outlook for the coming months for the Fed and we will be particularly cautious around data releases for the US economy as a data dependant Fed will be making its moves on the back of maximum employment achieved and progress towards their 2% inflation target. Technically, we are back into similar territory and the near term levels remain with 0.7280 as support ahead of 2015 lows at 0.7176, trading with a bearish bias in the broader sense of the longer term trend.