9 Apr 2015
NZD/USD: 7520/0.7600 should cover today's eventualities - FXCharts
FXStreet (Bali) - Jim Langlands, Founder at FXCharts, notes that in the absence of any major NZD data today, 7520/0.7600 range should be served as a guide for trading during today's sessions.
Key Quotes
"With a positive net change of 50 points and in the absence of any major data today, it would seem that the previous session’s range may well cover it."
"If the Kiwi comes under downside pressure, then below 0.7515 would open up the day’s low at 0.7485, below which, the points to watch are now at 0.7450 (minor) and then last week’s lows at 0.7390. I doubt that we head down there today, but if wrong, below 0.7390 there is little to support the Kiwi until 0.7270."
"On the topside, there will again be sellers on the approach towards 0.7600 (100 DMA 0.7596). The hourlies do not suggest that we are going much above here today, but if wrong, further offers will arrive at 0.7630 (3 April – post NFP high) and 0.7665 (26 Mar high). Use 0.7520/0.7600 as a guide."
Key Quotes
"With a positive net change of 50 points and in the absence of any major data today, it would seem that the previous session’s range may well cover it."
"If the Kiwi comes under downside pressure, then below 0.7515 would open up the day’s low at 0.7485, below which, the points to watch are now at 0.7450 (minor) and then last week’s lows at 0.7390. I doubt that we head down there today, but if wrong, below 0.7390 there is little to support the Kiwi until 0.7270."
"On the topside, there will again be sellers on the approach towards 0.7600 (100 DMA 0.7596). The hourlies do not suggest that we are going much above here today, but if wrong, further offers will arrive at 0.7630 (3 April – post NFP high) and 0.7665 (26 Mar high). Use 0.7520/0.7600 as a guide."