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12 Mar 2014
NZD/USD rallying 30 pips, relatively unchanged
FXStreet (Guatemala) - NZD/USD has rallied up to test the resistance at 0.8480 and the descending resistance line from 0.8505 on Tuesday.
Strategists at TD Securities explained that NZD/USD is more or less unchanged on the day as investors await what most expect to be the first major central bank rate increase in three years. “Though the Kiwi has been the more sensitive G-10 currency to equity volatility in the past month and this may catch up with the currency after the RBNZ decision with the expected tightening today well discounted by the market”.
NZD/USD Levels
The 20 DMA is 0.8367, the 50 DMA is 0.8304 and the 200 DMA is 0.8151. RSI (14) reads 55.34. Supports are ascending from 0.8393, 0.8400, 0.8425, 0.8432. Spot is 0.8476 and resistances are 0.8507, 0.8523, 0.8544 and 0.8583.
Strategists at TD Securities explained that NZD/USD is more or less unchanged on the day as investors await what most expect to be the first major central bank rate increase in three years. “Though the Kiwi has been the more sensitive G-10 currency to equity volatility in the past month and this may catch up with the currency after the RBNZ decision with the expected tightening today well discounted by the market”.
NZD/USD Levels
The 20 DMA is 0.8367, the 50 DMA is 0.8304 and the 200 DMA is 0.8151. RSI (14) reads 55.34. Supports are ascending from 0.8393, 0.8400, 0.8425, 0.8432. Spot is 0.8476 and resistances are 0.8507, 0.8523, 0.8544 and 0.8583.