10 Apr 2014
NZD/USD is moving back to 0.87 support
FXStreet (Moscow) - NZD/USD is trading around 0.8707 correcting lower after it posted 0.8744 not seen from August, 2011.
The kiwi in retracement
The kiwi likes to follow the aussie, and likes to react on positive data from Australia, if nothing on tap from New Zealeand. So, no wonder we enjoy the recent rally of the pair to multi-year highs. Nevertheless, the USD is not that weak for now to allow any commodity currency reach new highs just in once without fighting. For the moment, 0.8740 area become a short-term barrier on the way higher, triggering a mild retracement to 0.87 support with next target at 0.8665. US Initial Jobless Claims may become the needed trigger.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8697, with support below at 0.8665, 0.8614 and 0.8582, with resistance above at 0.8748, 0.8780 and 0.8831. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8627 and the daily 20EMA bullish at 0.8586. Hourly RSI is bullish at 58.
The kiwi in retracement
The kiwi likes to follow the aussie, and likes to react on positive data from Australia, if nothing on tap from New Zealeand. So, no wonder we enjoy the recent rally of the pair to multi-year highs. Nevertheless, the USD is not that weak for now to allow any commodity currency reach new highs just in once without fighting. For the moment, 0.8740 area become a short-term barrier on the way higher, triggering a mild retracement to 0.87 support with next target at 0.8665. US Initial Jobless Claims may become the needed trigger.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8697, with support below at 0.8665, 0.8614 and 0.8582, with resistance above at 0.8748, 0.8780 and 0.8831. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8627 and the daily 20EMA bullish at 0.8586. Hourly RSI is bullish at 58.