25 Feb 2015
NZD/USD: Up to test the decending trend lines resistance
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7508 with a high of 0.7521 and a low of 0.7475.
NZD/USD is currently bid while the market is off loading yet more dollars post Yellen's testimony overnight. We are up from 0.7480 on the 30 min sticks and challenging 0.7520. This is where the descending channel line is and this was an area vulnerable to the bulls appetite, or indeed the bears looking for a good opportunity to fade and add to positions further down the spectrum of the Kiwi's decline.
Wheeler is now talking, and there has been some talk on the housing sector so far that is hitting the wires, but nothing yet on monetary policy or mention on yesterday's outlook from the RBNZ in respect to inflation being on the lower end of the Central Banks target bracket.
NZD/USD is currently bid while the market is off loading yet more dollars post Yellen's testimony overnight. We are up from 0.7480 on the 30 min sticks and challenging 0.7520. This is where the descending channel line is and this was an area vulnerable to the bulls appetite, or indeed the bears looking for a good opportunity to fade and add to positions further down the spectrum of the Kiwi's decline.
Wheeler is now talking, and there has been some talk on the housing sector so far that is hitting the wires, but nothing yet on monetary policy or mention on yesterday's outlook from the RBNZ in respect to inflation being on the lower end of the Central Banks target bracket.