2 May 2014
NZD/USD keeps being rejected off 0.8635/40 resistance
FXStreet (Bali) - Currently, NZD/USD is trading at 0.8615, down -0.20% on the day, having posted a daily high at 0.8636 and low at 0.8613, with most traders sidelined ahead of the US NFP.
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish. At the time of writing, RSI is neutral at 39.08, down from 55.62 at the last hour close, while ADX is ranging at 28.79, up from 12.87 previous. Meanwhile, daily RSI is in neutral territory at 54.51. On the hourly NZD/USD chart, the 200 SMA is climbing and currently at 0.8601, up from the previous hour close at 0.8580. On average, the exponential closing price for the past 20 days is 0.8591, with the trend indicating rangebound action ahead.
How volatile has NZD/USD been?
On the hourly NZD/USD chart, ATR (14) is presently at 8 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 28 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is expanding at 210 pips. Following the four week period average, today’s most volatile hour is between 1:00-2:00 GMT which has an average movement of 13 pips.
What price levels and patterns have to be considered?
Current price is 0.8616, with resistance ahead at 0.8622 (Hourly 20 EMA), 0.8631 (Weekly Classic R1), 0.8633 (Daily Open), 0.8633 (Weekly High) and 0.8636 (Daily High). Next support to the downside can be found at 0.8613 (Daily Low), 0.8600 (Yesterday's Low), 0.8599 (Daily Classic PP), 0.8591 (Daily 20 SMA) and 0.8588 (Weekly Classic PP).
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish. At the time of writing, RSI is neutral at 39.08, down from 55.62 at the last hour close, while ADX is ranging at 28.79, up from 12.87 previous. Meanwhile, daily RSI is in neutral territory at 54.51. On the hourly NZD/USD chart, the 200 SMA is climbing and currently at 0.8601, up from the previous hour close at 0.8580. On average, the exponential closing price for the past 20 days is 0.8591, with the trend indicating rangebound action ahead.
How volatile has NZD/USD been?
On the hourly NZD/USD chart, ATR (14) is presently at 8 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 28 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is expanding at 210 pips. Following the four week period average, today’s most volatile hour is between 1:00-2:00 GMT which has an average movement of 13 pips.
What price levels and patterns have to be considered?
Current price is 0.8616, with resistance ahead at 0.8622 (Hourly 20 EMA), 0.8631 (Weekly Classic R1), 0.8633 (Daily Open), 0.8633 (Weekly High) and 0.8636 (Daily High). Next support to the downside can be found at 0.8613 (Daily Low), 0.8600 (Yesterday's Low), 0.8599 (Daily Classic PP), 0.8591 (Daily 20 SMA) and 0.8588 (Weekly Classic PP).