10 Dec 2013
NZD/USD tilting towards 0.83 handle
FXstreet.com (London) - NZD/USD has remained buoyant into the start of this week and is testing the upside of the 0.82 handle.
The descending resistance lines origin is at 0.8546 on the daily charts and the pair is currently targeting a break of the resistance through 0.8300. Meanwhile, the marquee event is the RBNZ coming up this week. Strategists at TD Securities said, “The RBNZ meets next week and while there is little doubt that the cash rate stays at 2.5%, the Bank will signal that a tightening cycle lies ahead in the accompanying quarterly Monetary Policy Statement.
NZD/USD Levels
The 20 DMA is 0.8233, the 50 DMA is 0.8295, the 200 DMA is 0.8165. RSI (14) reads 56.28. Supports are ascending from 0.8150, 0.8177, 0.8220 and 0.8246. Spot is 0.8288 while resistances are starting with key resistance at 0.8310, then 0.8330, 0.8397, 0.8415 and 0.8446.
The descending resistance lines origin is at 0.8546 on the daily charts and the pair is currently targeting a break of the resistance through 0.8300. Meanwhile, the marquee event is the RBNZ coming up this week. Strategists at TD Securities said, “The RBNZ meets next week and while there is little doubt that the cash rate stays at 2.5%, the Bank will signal that a tightening cycle lies ahead in the accompanying quarterly Monetary Policy Statement.
NZD/USD Levels
The 20 DMA is 0.8233, the 50 DMA is 0.8295, the 200 DMA is 0.8165. RSI (14) reads 56.28. Supports are ascending from 0.8150, 0.8177, 0.8220 and 0.8246. Spot is 0.8288 while resistances are starting with key resistance at 0.8310, then 0.8330, 0.8397, 0.8415 and 0.8446.