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19 Mar 2014
NZD/USD bears are reluctant to act boldly
FXStreet (Moscow) - NZD/USD ties to develop the downside correction, but 0.8600 is too strong to be taken out so easily; the pair has stuck at 0.8610
Kiwi flies to the sky
NZD/USD broke above the key resistance of 0.8600 and closed at 0.8622. The pair started its upside quest early in Europe and rushed to new highs as poor US macro statistics dampened the US Dollar across the board. Geopolitical risks related to Crimea join to Russia were largely ignored by kiwi traders as they did not believed that the escalation will affect New Zealand economy. NZ current account data published earlier today showed that the deficit decreased to -1.43 b. in the 4th quarter from -4.78 in the 3Q. This news was met with a salt of grain as NZD/USD moved to the support of 0.8600. On the intraday basis the pair will try to consolidate gains above 0.8600. This is the key support now. The upside is likely to be limited by Tuesday’s high at 0.8643.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8602, with support below at 0.8561, 0.8500 and 0.8459, with resistance above at 0.8663, 0.8704 and 0.8765. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8518 and the daily 20EMA at 0.8431. Hourly RSI is neutral at 55.
Kiwi flies to the sky
NZD/USD broke above the key resistance of 0.8600 and closed at 0.8622. The pair started its upside quest early in Europe and rushed to new highs as poor US macro statistics dampened the US Dollar across the board. Geopolitical risks related to Crimea join to Russia were largely ignored by kiwi traders as they did not believed that the escalation will affect New Zealand economy. NZ current account data published earlier today showed that the deficit decreased to -1.43 b. in the 4th quarter from -4.78 in the 3Q. This news was met with a salt of grain as NZD/USD moved to the support of 0.8600. On the intraday basis the pair will try to consolidate gains above 0.8600. This is the key support now. The upside is likely to be limited by Tuesday’s high at 0.8643.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8602, with support below at 0.8561, 0.8500 and 0.8459, with resistance above at 0.8663, 0.8704 and 0.8765. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8518 and the daily 20EMA at 0.8431. Hourly RSI is neutral at 55.