4 Dec 2013
NZD offered again?
FXstreet.com (London) - The NZD had been outperforming, rising to 0.8262 against the USD earlier in the sessions in Europe and the US but has since come off within the handle.
From the charts perspective, the downside still appears sticky and if there is to be a change of direction one might suspect more of a grind lower rather than a collapse. Much now depends on the out come from the Us data releases this week and markets may then look at the strength of the bird and the concerns that the RBNZ has once the US data has been digested.
NZD/USD Levels
The 20 DMA is 0.8252, the 50 DMA is 0.8298 and the 200 DMA is 0.8165. RSI (14) reads 57.59. Supports are ascending from 0.8037, 0.8084, 0.8112, 0.8125, 0.8162, 0.8225. Spot is 0.8235 with resistances at 0.8260 and 0.8266.
From the charts perspective, the downside still appears sticky and if there is to be a change of direction one might suspect more of a grind lower rather than a collapse. Much now depends on the out come from the Us data releases this week and markets may then look at the strength of the bird and the concerns that the RBNZ has once the US data has been digested.
NZD/USD Levels
The 20 DMA is 0.8252, the 50 DMA is 0.8298 and the 200 DMA is 0.8165. RSI (14) reads 57.59. Supports are ascending from 0.8037, 0.8084, 0.8112, 0.8125, 0.8162, 0.8225. Spot is 0.8235 with resistances at 0.8260 and 0.8266.