14 Mar 2014
NZD/USD bulls haves started Friday with renewed vigor
FXStreet (Moscow) - NZD/USD resumed its upside quest early on Friday as the pair opened in Asia at 0.8543 and moved to intraday highs at 0.8557, but the bullish dynamics was not sustained and kiwi retreated to current levels of 0.8537
What goes up must come down
Kiwi spiked above 0.8500 and touched a resistance of 0.8600, but the upside was not sustained as the pair reversed back to the opening levels of 0.8540 as anti-risk sentiments took the gloss off pretty risky kiwi. NZD/USD finished the day well above 0.8500. which is a positive factor in the long run, while the short-term perspective is full of uncertainties. The European session is going to be nervous as we a getting closer to Crimea referendum. This is s great risk factor that will shape the investors’ mood and make them to adjust positions ahead of the weekend. There is a couple of interesting reports to be published in the USA, namely, February PPI and March Preliminary UoM Consumer Sentiment. They may spur additional volatility as the US dollar will come under pressure if the data disappoints. On the intraday basis keep an eye at 0.8526 (Asian low) on the downside. Once it is firmly broken, the pair may go lower to 0.8500. On the upside the key resistance is still 0.8600.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8554, with support below at 0.8500, 0.8458 and 0.8404, with resistance above at 0.8596, 0.8655 and 0.8692. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8461 and the daily 20EMA at 0.8404. Hourly RSI is neutral at 49.
What goes up must come down
Kiwi spiked above 0.8500 and touched a resistance of 0.8600, but the upside was not sustained as the pair reversed back to the opening levels of 0.8540 as anti-risk sentiments took the gloss off pretty risky kiwi. NZD/USD finished the day well above 0.8500. which is a positive factor in the long run, while the short-term perspective is full of uncertainties. The European session is going to be nervous as we a getting closer to Crimea referendum. This is s great risk factor that will shape the investors’ mood and make them to adjust positions ahead of the weekend. There is a couple of interesting reports to be published in the USA, namely, February PPI and March Preliminary UoM Consumer Sentiment. They may spur additional volatility as the US dollar will come under pressure if the data disappoints. On the intraday basis keep an eye at 0.8526 (Asian low) on the downside. Once it is firmly broken, the pair may go lower to 0.8500. On the upside the key resistance is still 0.8600.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8554, with support below at 0.8500, 0.8458 and 0.8404, with resistance above at 0.8596, 0.8655 and 0.8692. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8461 and the daily 20EMA at 0.8404. Hourly RSI is neutral at 49.