3 Dec 2013
NZD for sub 0.8000 again?
FXstreet.com (London) - NZD is outperforming, rising to 0.8262 against the USD, but RBNZ concerns and a bust schedule from the calendar ahead could be a game play changer...
Without much in the way of data, except that the ANZ Commodity Price in Nov fell –0.4% after 4 consecutive months of increase, we will focus back towards the busy schedule ahead from the US calendar this week. Meanwhile, from the charts perspective, the downside appears sticky and if there is to be a change of direction one might suspect more of a grind lower rather than a collapse, but besides the US data coming up, markets might consider paying enough attention to the RBNZ's concerns over currency strength as well. Eye’s on the NFP number, and anything decent could open up an argument for sub 0.8000 again with tapering not too distant from the markets focus.
NZD/USD Levels
The 20 DMA is 0.8252, the 50 DMA is 0.8298 and the 200 DMA is 0.8165. RSI (14) reads 68.89. Supports are ascending from 0.8037, 0.8084, 0.8112, 0.8125, 0.8162, 0.8225. Spot is 0.8248, 0.8260 and 0.8266.
Without much in the way of data, except that the ANZ Commodity Price in Nov fell –0.4% after 4 consecutive months of increase, we will focus back towards the busy schedule ahead from the US calendar this week. Meanwhile, from the charts perspective, the downside appears sticky and if there is to be a change of direction one might suspect more of a grind lower rather than a collapse, but besides the US data coming up, markets might consider paying enough attention to the RBNZ's concerns over currency strength as well. Eye’s on the NFP number, and anything decent could open up an argument for sub 0.8000 again with tapering not too distant from the markets focus.
NZD/USD Levels
The 20 DMA is 0.8252, the 50 DMA is 0.8298 and the 200 DMA is 0.8165. RSI (14) reads 68.89. Supports are ascending from 0.8037, 0.8084, 0.8112, 0.8125, 0.8162, 0.8225. Spot is 0.8248, 0.8260 and 0.8266.