14 Apr 2014
NZD/USD settled in the middle of the short-term range below 0.8400
FXStreet (Moscow) - Currently, NZD/USD is under selling pressure early on Monday as the pair dropped to 0.8674 from the Asian high of 0.8695.
NZD/USD is vulnerable to downside correction
NZD/USD finished the week below 0.8700 level after setting multi-year high at 0.8747 on Thursday. The cross is heavily overbought, which means that healthy correction will do no harm, as long as 0.8600 support level is intact. From the fundфmental point of view, there are few important reports scheduled this week, such as CPI numbers, published on Wednesday and consumer confidence on Thursday. Among the external shocks that may influence the kiwi sentiments are geopolitical tensions in Ukraine and Chinese data. Technically, NZD/USD may spend some time in a range limited by 0.8600 on the downside and 0.8700 on the upside, before it starts a new directional movement.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8673, with support below at 0.8640, 0.8590 and 0.8557, with resistance above at 0.8723, 0.8756 and 0.8806. Hourly Moving Averages are neutral, with the 200SMA at 0.8629 and the daily 20EMA at 0.8604. Hourly RSI is bearish at 47.
NZD/USD is vulnerable to downside correction
NZD/USD finished the week below 0.8700 level after setting multi-year high at 0.8747 on Thursday. The cross is heavily overbought, which means that healthy correction will do no harm, as long as 0.8600 support level is intact. From the fundфmental point of view, there are few important reports scheduled this week, such as CPI numbers, published on Wednesday and consumer confidence on Thursday. Among the external shocks that may influence the kiwi sentiments are geopolitical tensions in Ukraine and Chinese data. Technically, NZD/USD may spend some time in a range limited by 0.8600 on the downside and 0.8700 on the upside, before it starts a new directional movement.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8673, with support below at 0.8640, 0.8590 and 0.8557, with resistance above at 0.8723, 0.8756 and 0.8806. Hourly Moving Averages are neutral, with the 200SMA at 0.8629 and the daily 20EMA at 0.8604. Hourly RSI is bearish at 47.