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7 Mar 2014
NZD/USD recovers from Asian lows at 0.8467
FXStreet (Moscow) - NZD/USD has managed to recover from intraday lows at 0.8467 in Asia, but its short-term bias is still mixed
The sky is the limit for the kiwi
NZD/USD set a new multi-month high at 0.8505 on Thursday, but finished the day still below this level, at 0.8476. The kiwi was on exploring the Northern grounds as the US Dollar was pressured down across the board and the risk currencies became popular once again. From the long-term perspective,once the pair is above 0.8540/50 area, the sky will be the limit for the bulls. Unthinkable? Not at all, but before this epic run to the North kiwi needs to retrace lower to allow the bulls might collect energies and news buyers - to jump into the trend. Positioning ahead of the Non-Farm Payroll might also trigger the downside movement in the pair. This is a traditional risk event usually brings a great deal of volatility to the market, so be careful. The closest support comes at 0.8420. Once it is broken, the downside may accelerate to 0.8400. The upside is likely to be limited by 0.8500.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8462, with support below at 0.8420, 0.8364 and 0.8322, with resistance above at 0.8518, 0.8560 and 0.8616. Hourly Moving Averages are bullish, with the 200SMA at 0.8376 and the daily 20EMA at 0.8344. Hourly RSI is neutral at 60.
The sky is the limit for the kiwi
NZD/USD set a new multi-month high at 0.8505 on Thursday, but finished the day still below this level, at 0.8476. The kiwi was on exploring the Northern grounds as the US Dollar was pressured down across the board and the risk currencies became popular once again. From the long-term perspective,once the pair is above 0.8540/50 area, the sky will be the limit for the bulls. Unthinkable? Not at all, but before this epic run to the North kiwi needs to retrace lower to allow the bulls might collect energies and news buyers - to jump into the trend. Positioning ahead of the Non-Farm Payroll might also trigger the downside movement in the pair. This is a traditional risk event usually brings a great deal of volatility to the market, so be careful. The closest support comes at 0.8420. Once it is broken, the downside may accelerate to 0.8400. The upside is likely to be limited by 0.8500.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8462, with support below at 0.8420, 0.8364 and 0.8322, with resistance above at 0.8518, 0.8560 and 0.8616. Hourly Moving Averages are bullish, with the 200SMA at 0.8376 and the daily 20EMA at 0.8344. Hourly RSI is neutral at 60.