25 Feb 2015
NZD/USD: Sitting on the bid, shy of the 0.75 handle
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7486 with a high of 0.7493 and a low of 0.7485.
NZD/USD remains in the vicinity of the 0.75 handle, getting as bid as 0.7494 overnight. The bird rallied on the back of a broad based dollar sell off with Yellen's testimony disappointing the hawks and informs markets that they are staying patient. Reminding ourselves that the RBNZ's inflation outlook was sitting in the low end of their target range and this should give rise to more jawboning of the currency next speech around form Wheeler.
NZD/USD is meanwhile sitting in the bearish camp, but technically there could be a little more room to the upside if the descending trend line is to play its part and allow the space between current levels and, say, 0.7520 to act as final resistance on the hourly chart.
NZD/USD remains in the vicinity of the 0.75 handle, getting as bid as 0.7494 overnight. The bird rallied on the back of a broad based dollar sell off with Yellen's testimony disappointing the hawks and informs markets that they are staying patient. Reminding ourselves that the RBNZ's inflation outlook was sitting in the low end of their target range and this should give rise to more jawboning of the currency next speech around form Wheeler.
NZD/USD is meanwhile sitting in the bearish camp, but technically there could be a little more room to the upside if the descending trend line is to play its part and allow the space between current levels and, say, 0.7520 to act as final resistance on the hourly chart.