9 Jul 2014
NZD/USD maintaining a bullish bias
FXStreet (Guatemala) - NZD/USD is trading at 0.8786, down -0.02% on the day, having posted a daily high at 0.8795 and low at 0.8783.
NZD/USD is neatly ticked below the 0.88 handle and yearly highs while maintaining with a bullish bias. “The reasons behind the NZD stellar performance are easy to explain”, explained Jane Foley, Senior Currency Strategist at Rabobank. “The RBNZ has hiked rates three times already this year having turned glaringly hawkish in the second half of last year. Investors have been on the lookout for yield and an increase in risk appetite has been facilitated by the huge amount of cheap liquidity being provided by the world’s major central banks; the Fed, the BoJ and the ECB”.
NZD/USD Levels
Current price is 0.8786, with resistance ahead at 0.8788 (Annual High) and 0.8795 (Daily High). Next support to the downside can be found at 0.8784 (Weekly Classic R1), 0.8783 (Daily Low), 0.8781 (Hourly 20 EMA), 0.8781 (Daily Classic R1) and 0.8780 (YTD High).
NZD/USD is neatly ticked below the 0.88 handle and yearly highs while maintaining with a bullish bias. “The reasons behind the NZD stellar performance are easy to explain”, explained Jane Foley, Senior Currency Strategist at Rabobank. “The RBNZ has hiked rates three times already this year having turned glaringly hawkish in the second half of last year. Investors have been on the lookout for yield and an increase in risk appetite has been facilitated by the huge amount of cheap liquidity being provided by the world’s major central banks; the Fed, the BoJ and the ECB”.
NZD/USD Levels
Current price is 0.8786, with resistance ahead at 0.8788 (Annual High) and 0.8795 (Daily High). Next support to the downside can be found at 0.8784 (Weekly Classic R1), 0.8783 (Daily Low), 0.8781 (Hourly 20 EMA), 0.8781 (Daily Classic R1) and 0.8780 (YTD High).