22 Jan 2014
NZD/USD narrows the ranges to hint the breakout
FXstreet.com (Moscow) - NZD/USD is consolidating around 0.8320 not able to move higher in absence of strong enough catalysts.
NZD/USD may be impressed by the ZEW heights
NZD/USD is showing the narrowing of consolidation range during the last days that may be a sign the breakout is nearing. The market got the consumer price report from New Zealand on Monday that raised the chances of tightening for the RBNZ at the next meeting. The economic data from New Zealand has been pretty good lately, so some traders expect that the central bank raise rates to keep inflation in check. Tonight we will get Business NZ Manufacturing Index that may give some additional support to the pair with initial target at 0.8354 resistance level..
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8302, with support below at 0.8261 (S1), 0.8209 (S2), and 0.8168 (S3) with resistance above at 0.8354 (R1), 0.8395 (R2), and 0.8447 (R3). Hourly Moving Averages are bullish, with the 200SMA at 0.8314 and the daily 20EMA flat at 82.80. Hourly RSI is neutral at 27.
NZD/USD may be impressed by the ZEW heights
NZD/USD is showing the narrowing of consolidation range during the last days that may be a sign the breakout is nearing. The market got the consumer price report from New Zealand on Monday that raised the chances of tightening for the RBNZ at the next meeting. The economic data from New Zealand has been pretty good lately, so some traders expect that the central bank raise rates to keep inflation in check. Tonight we will get Business NZ Manufacturing Index that may give some additional support to the pair with initial target at 0.8354 resistance level..
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8302, with support below at 0.8261 (S1), 0.8209 (S2), and 0.8168 (S3) with resistance above at 0.8354 (R1), 0.8395 (R2), and 0.8447 (R3). Hourly Moving Averages are bullish, with the 200SMA at 0.8314 and the daily 20EMA flat at 82.80. Hourly RSI is neutral at 27.