3 Feb 2014
NZD/USD choppy price action
FXStreet (Guatemala) - NZD/USD has been a choppy affair of which in fact has been a buy dips and sell on rallies remaining within a sideways channel.
The pair is becoming more bid as the session and day progresses through the calendar, besides the drop from above the range that was above 0.8135 to start testing below the 0.81 handle. Plenty of supply there despite a weaker than expected US ISM Manufacturing PMI - down to 51.3 in January from 57 in December. Worth noting, which came from Strategists at TD Securities, the Treasury says RBNZ is widely expected to hike rates in March. Strong 2013 growth the trigger for tightening. The pair
NZD/USD Levels
The 20 DMA is 0.8276, the 50 DMA is 0.8238 and the 200 DMA is 0.8139. RSI (14) reads 58.27. Supports are ascending from 0.7962, 0.8004, 0.8037, 0.8063. Spot is 0.8108 while resistances are 0.8127, 0.8161, 0.8187 and 0.8195.
The pair is becoming more bid as the session and day progresses through the calendar, besides the drop from above the range that was above 0.8135 to start testing below the 0.81 handle. Plenty of supply there despite a weaker than expected US ISM Manufacturing PMI - down to 51.3 in January from 57 in December. Worth noting, which came from Strategists at TD Securities, the Treasury says RBNZ is widely expected to hike rates in March. Strong 2013 growth the trigger for tightening. The pair
NZD/USD Levels
The 20 DMA is 0.8276, the 50 DMA is 0.8238 and the 200 DMA is 0.8139. RSI (14) reads 58.27. Supports are ascending from 0.7962, 0.8004, 0.8037, 0.8063. Spot is 0.8108 while resistances are 0.8127, 0.8161, 0.8187 and 0.8195.