30 Jul 2013
NZD/USD sub 0.8000
FXstreet.com (London) - NZD/USD slid around 80 pips Mon/Tue sessions and had formed a base sub 0.8000.
NZD/USD is testing the support sub 0.8000 at 0.7980. Data wise, building approvals fell 4%/mth in June, after +1% in May and +21% in April, weighing on the pair. We have US consumer confidence up this afternoon at 2GMT while we are awaiting FOMC this week and RBNZ the following week. The RBNZ explicity warned the next move was up. The USD will be the main driver of the pair this week with ISM and nonfarm payrolls as well.
NZD/USD levels
NZD/USD bias is towards the downside as far as staying below the resistances 0.8137 and 0.8171 ahead of 0.8200/30 and 200d ma psychological level. The 20d ma is at 0.7886, the50d ma 0.7928 and 200d mais at 0.8229. RSI (9) 61.88. Support 0.7881, 0.7906, 0.7940, 0.7970, Spot is 0.7986. Resistances are 0.8055, 0.8105, 0.8137, 0.8171.
NZD/USD is testing the support sub 0.8000 at 0.7980. Data wise, building approvals fell 4%/mth in June, after +1% in May and +21% in April, weighing on the pair. We have US consumer confidence up this afternoon at 2GMT while we are awaiting FOMC this week and RBNZ the following week. The RBNZ explicity warned the next move was up. The USD will be the main driver of the pair this week with ISM and nonfarm payrolls as well.
NZD/USD levels
NZD/USD bias is towards the downside as far as staying below the resistances 0.8137 and 0.8171 ahead of 0.8200/30 and 200d ma psychological level. The 20d ma is at 0.7886, the50d ma 0.7928 and 200d mais at 0.8229. RSI (9) 61.88. Support 0.7881, 0.7906, 0.7940, 0.7970, Spot is 0.7986. Resistances are 0.8055, 0.8105, 0.8137, 0.8171.