24 Sep 2013
NZD/USD constructively consolidated for a break lower?
FXstreet.com (London) - NZD/USD is making lower highs since the drop from .8340 and is struggling to reclaim the handle.
NZD/USD is overall and broadly bid above .8216 but near term NZD/USD ranges are between 0.8240 and 0.8380 currently, with consolidation remaining the prevailing force among the majors. Research teams at TD Securities commented, suggesting more QE tapering comments have given the USD a mild, but broad bid, and have left the NZD as an under performer. The kiwi is also lagging to the AUD as the pair failed to break down through 1.1200 support, climbing a big figure to a high of 1.1364. On the basis of recently supply and RSI offering indication momentum is slowing, the pair may find strong support here, but failure within this bearish looking consolidation risk opens towards .8216 targets.
NZD/USD Levels
The 20 DMA is 0.8069, the 50 DMA is 0.8000 and the 200 DMA is at 0.8181. Meanwhile, RSI (14) reads 34.76. Supports are ascending from 0.8190, 0.8206 and 0.8249. Spot is currently 0.8283 while resistances are 0.8290, 0.8330, 0.8445, 0.8461, 0.8481 and 0.8524.
NZD/USD is overall and broadly bid above .8216 but near term NZD/USD ranges are between 0.8240 and 0.8380 currently, with consolidation remaining the prevailing force among the majors. Research teams at TD Securities commented, suggesting more QE tapering comments have given the USD a mild, but broad bid, and have left the NZD as an under performer. The kiwi is also lagging to the AUD as the pair failed to break down through 1.1200 support, climbing a big figure to a high of 1.1364. On the basis of recently supply and RSI offering indication momentum is slowing, the pair may find strong support here, but failure within this bearish looking consolidation risk opens towards .8216 targets.
NZD/USD Levels
The 20 DMA is 0.8069, the 50 DMA is 0.8000 and the 200 DMA is at 0.8181. Meanwhile, RSI (14) reads 34.76. Supports are ascending from 0.8190, 0.8206 and 0.8249. Spot is currently 0.8283 while resistances are 0.8290, 0.8330, 0.8445, 0.8461, 0.8481 and 0.8524.