3 Dec 2013
NZD/USD moving in on 0.82 handle again
FXstreet.com (London) - NZD/USD is attempting the 0.82 handle without much conviction since falling back below 0.8180 and towards the 200 DMA.
Turning towards the fundamentals, Imre Speizer, strategist at Westpac Banking Corporation say’s the NZ fundamentals continue to shine, witness the surge in the momentum of NZ economic data during the past few months. “NZ interest rates have followed suit, as the chart shows, but NZD/USD has not followed NZ interest rates. The failure of NZD/USD to follow NZ-US interest rate spreads is unusual, and points to a market focus on the US dollar as one explanation”.
NZD/USD Levels
The 20 DMA is 0.8257, the 50 DMA is 0.8302 and the 200 DMA is 0.8166. RSI (14) reads 55.06. Supports are ascending from 0.8084, 0.8102, 0.8125 and 0.8155. Spot is currently 0.8189 while resistances are 0.8202, 0.8212, 0.8266, 0.8310 and 0.8330.
Turning towards the fundamentals, Imre Speizer, strategist at Westpac Banking Corporation say’s the NZ fundamentals continue to shine, witness the surge in the momentum of NZ economic data during the past few months. “NZ interest rates have followed suit, as the chart shows, but NZD/USD has not followed NZ interest rates. The failure of NZD/USD to follow NZ-US interest rate spreads is unusual, and points to a market focus on the US dollar as one explanation”.
NZD/USD Levels
The 20 DMA is 0.8257, the 50 DMA is 0.8302 and the 200 DMA is 0.8166. RSI (14) reads 55.06. Supports are ascending from 0.8084, 0.8102, 0.8125 and 0.8155. Spot is currently 0.8189 while resistances are 0.8202, 0.8212, 0.8266, 0.8310 and 0.8330.