6 Feb 2014
NZD/USD finding supply on 0.8280
FXStreet (Guatemala) - NZD/USD took flight from below 0.8240 to reach 0.8260 without breathing before supply came in on 0.8280 which capped the bird.
NZD/USD has managed to remain bid despite positive data from the US. However, today has been more about the ECB and the EUR/USD which allowed the bird to move higher. Now attention with avert towards tomorrow’s data from the US. Strategists at TD Securities noted that we might still get some volatility around the NFP data…but the overall message from this week’s data is that the Fed will keep its toe on the taper brake for now”.
NZD/USD Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8238 and the 200 DMA is 0.8134. RSI (14) reads 63.92. Supports are ascending from 0.8100, 0.8138, 0.8163 and 0.8187. Spot is 0.8272 while resistances are 0.8287, 0.8305 and 0.8346.
NZD/USD has managed to remain bid despite positive data from the US. However, today has been more about the ECB and the EUR/USD which allowed the bird to move higher. Now attention with avert towards tomorrow’s data from the US. Strategists at TD Securities noted that we might still get some volatility around the NFP data…but the overall message from this week’s data is that the Fed will keep its toe on the taper brake for now”.
NZD/USD Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8238 and the 200 DMA is 0.8134. RSI (14) reads 63.92. Supports are ascending from 0.8100, 0.8138, 0.8163 and 0.8187. Spot is 0.8272 while resistances are 0.8287, 0.8305 and 0.8346.