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22 Apr 2014
NZD/USD lazly climbs to the resistance zone of 0.8580/90
FXStreet (Moscow) - NZD/USD is trading at 0.8579, up 0.15% on the day, having posted a daily high at 0.8589 and low at 0.8563.
Kiwi waits for RBNZ verdict
NZD/USD settled within the range limited by 0.8580 and 0.8560 following a disgraceful declined during the previous week. Is the land of milk and honey losing its fairy-like investment attractiveness? Or are we just getting ready for a new journey to the North? We hope to get the answers on Thursday, when RBNZ announce its monetary policy decision. It is widely expected that the central bank will raise rates within its current tightening cycle, but investors will pay more attention to the accompanying statement as it may contain comments about foreign exchange rates and general economic outlook. On the intraday basis the strong resistance zone comes at 0.8580/90, while a number of technical support lines is clustered at 0.8575/70.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8582, and next resistance can be seen at 0.8589 (Daily High), 0.8591 (Hourly 100 SMA), 0.8596 (Daily Classic R1), 0.8603 (Yesterday's High) and 0.8605 (Daily 20 SMA).
Support below can be found at 0.8576 (Daily Classic PP), 0.8573 (Hourly 20 EMA), 0.8573 (Daily Open), 0.8569 (Weekly Low) and 0.8563 (Daily Low).
Kiwi waits for RBNZ verdict
NZD/USD settled within the range limited by 0.8580 and 0.8560 following a disgraceful declined during the previous week. Is the land of milk and honey losing its fairy-like investment attractiveness? Or are we just getting ready for a new journey to the North? We hope to get the answers on Thursday, when RBNZ announce its monetary policy decision. It is widely expected that the central bank will raise rates within its current tightening cycle, but investors will pay more attention to the accompanying statement as it may contain comments about foreign exchange rates and general economic outlook. On the intraday basis the strong resistance zone comes at 0.8580/90, while a number of technical support lines is clustered at 0.8575/70.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8582, and next resistance can be seen at 0.8589 (Daily High), 0.8591 (Hourly 100 SMA), 0.8596 (Daily Classic R1), 0.8603 (Yesterday's High) and 0.8605 (Daily 20 SMA).
Support below can be found at 0.8576 (Daily Classic PP), 0.8573 (Hourly 20 EMA), 0.8573 (Daily Open), 0.8569 (Weekly Low) and 0.8563 (Daily Low).