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21 May 2014
NZD/USD is on the slippery slope
FXStreet (Moscow) - NZD/USDcontinues to slide as the pair opened at 0.8573 and moved to current level of 0.8353
Kiwi follows the Aussie
The pair follows the AUD/USD moves, although the downtrend in the pair started a bit earlier – on May, 6, and since that time the pair has lost about 200 pips. The absence of interesting economic events may continue to pressure the pair, as it fell the victim of risk aversive mood, and the growing belief the RBNZ will make dovish comments during the June meeting. The release in the morning Net Migration Data was practically ignored by the market, and now the market focus turns to ANZ Jobs and Consumer Confidence Data, and Q2 2yr Inflation Expectations released on Thursday. The initial target to the downside may be at 0.8530 support level, with 0.8600 resistance limits the upside for short-term.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8590, with support below at 0.8545, 0.8515 and 0.8470, with resistance above at 0.8620, 0.8665 and 0.8690 Hourly Moving Averages are bearish, with the 200SMA at 0.8633 and the daily 20EMA at 0.8624. Hourly RSI is bearish at 31.
Kiwi follows the Aussie
The pair follows the AUD/USD moves, although the downtrend in the pair started a bit earlier – on May, 6, and since that time the pair has lost about 200 pips. The absence of interesting economic events may continue to pressure the pair, as it fell the victim of risk aversive mood, and the growing belief the RBNZ will make dovish comments during the June meeting. The release in the morning Net Migration Data was practically ignored by the market, and now the market focus turns to ANZ Jobs and Consumer Confidence Data, and Q2 2yr Inflation Expectations released on Thursday. The initial target to the downside may be at 0.8530 support level, with 0.8600 resistance limits the upside for short-term.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8590, with support below at 0.8545, 0.8515 and 0.8470, with resistance above at 0.8620, 0.8665 and 0.8690 Hourly Moving Averages are bearish, with the 200SMA at 0.8633 and the daily 20EMA at 0.8624. Hourly RSI is bearish at 31.