8 Jan 2014
NZD/USD hit throughout northern hemisphere session
FXstreet.com (London) - The NZD/USD has been hit hard with the positive sentiment around the US economy with data releases in the green and without there being any surprises from the FOMC minutes, the market has had the green light to continue investing in the greenback.
NZD/USD is opening in Asia with Building Permits on the up and soaring to 11.1% vs -0.6% previous. There has been little reaction to the data as second tier and traders will be adjusting to the price action in NY as they take over the screens while the pair is consolidating. From the FOMC minutes, it was revealed that a number of the members wanted to proceed cautiously with first cut to QE, use measured steps. "Most" concerned about QE risks to financial stability and “Most” participants are confident in jobs market gains. Officials saw waning benefits from monthly bond purchases and some wanted large cuts to purchases.
NZD/USD Levels
The 20 DMA is 0.8223, the 50 DMA is 0.8242, 0.8157. RSI (14) 43.45. Supports are 0.8200, 0.8220, 0.8244, 0.8252. Spot is 0.8263 while resistances are 0.8290, 0.8320, 0.8336, 0.8368 and 0.8415.
NZD/USD is opening in Asia with Building Permits on the up and soaring to 11.1% vs -0.6% previous. There has been little reaction to the data as second tier and traders will be adjusting to the price action in NY as they take over the screens while the pair is consolidating. From the FOMC minutes, it was revealed that a number of the members wanted to proceed cautiously with first cut to QE, use measured steps. "Most" concerned about QE risks to financial stability and “Most” participants are confident in jobs market gains. Officials saw waning benefits from monthly bond purchases and some wanted large cuts to purchases.
NZD/USD Levels
The 20 DMA is 0.8223, the 50 DMA is 0.8242, 0.8157. RSI (14) 43.45. Supports are 0.8200, 0.8220, 0.8244, 0.8252. Spot is 0.8263 while resistances are 0.8290, 0.8320, 0.8336, 0.8368 and 0.8415.