27 Mar 2014
NZD/USD flying high
FXStreet (Guatemala) - NZD is holding up, despite comments from New Zealand’s Financial Minister that the currency is "a bit too high". The bird also got an extra lift today from upbeat trade data also.
NZD took off when New Zealand trade balance for the month of February came at $818M vs $600M expected and $306M last, with the $0.49B expected and $0.31B last. Meanwhile, Kymberly Martin, Senior Market Strategist at BNZ explained, on the NZD, the RBNZ repeated its regular mantra that the “The Bank does not believe the current level of the exchange rate is sustainable in the long run”. She added, “However, it does seem more accepting that the strong currency represents the relative strength of the NZ economy”.
NZD/USD Levels
The 20 DMA is 0.8483, the 50 DMA is 0.8358 and the 200 DMA is 0.8180. RSI (14) reads 68.38. Supports are ascending from 0.8489, 0.8500, 0.8516, 0.8533 and 0.8590. Spot is 0.8620 while resistances are 0.8641, 0.8676 and 0.8733.
NZD took off when New Zealand trade balance for the month of February came at $818M vs $600M expected and $306M last, with the $0.49B expected and $0.31B last. Meanwhile, Kymberly Martin, Senior Market Strategist at BNZ explained, on the NZD, the RBNZ repeated its regular mantra that the “The Bank does not believe the current level of the exchange rate is sustainable in the long run”. She added, “However, it does seem more accepting that the strong currency represents the relative strength of the NZ economy”.
NZD/USD Levels
The 20 DMA is 0.8483, the 50 DMA is 0.8358 and the 200 DMA is 0.8180. RSI (14) reads 68.38. Supports are ascending from 0.8489, 0.8500, 0.8516, 0.8533 and 0.8590. Spot is 0.8620 while resistances are 0.8641, 0.8676 and 0.8733.