15 Jul 2014
NZD/USD is hybernating above 0.88
FXStreet (Moscow) - NZD/USD has frozen to 0.8808 level; the Asian range is depressingly narrow, traders are longing for new triggers to escape.
Nearly died above 0.88
Kiwi spend the whole Monday in a tight range and finished the day unchanged as market players cannot decide what to do next. Lack of fundamentally important news coupled with uncertain short-term technical picture leave NZD/USD paralyzed. The chances are that the pair will continue to live its listless life ahead of NZ CPI report published on Wednesday. Increased price pressure might inspire kiwi bulls for new deeds. On the intraday basis, watch 0.8800 as this level is a bespoke support. Resistance is seen at 0.8828/30.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8804, and next resistance can be seen at 0.8805 (Daily Open), 0.8809 (Daily Classic PP), 0.8809 (Hourly 20 EMA), 0.8810 (Hourly 100 SMA) and 0.8819 (Daily High).
Support below can be found at 0.8803 (Daily Low), 0.8795 (Yesterday's Low), 0.8794 (Daily Classic S1), 0.8788 (Weekly Low) and 0.8788 (Weekly Classic PP).
Nearly died above 0.88
Kiwi spend the whole Monday in a tight range and finished the day unchanged as market players cannot decide what to do next. Lack of fundamentally important news coupled with uncertain short-term technical picture leave NZD/USD paralyzed. The chances are that the pair will continue to live its listless life ahead of NZ CPI report published on Wednesday. Increased price pressure might inspire kiwi bulls for new deeds. On the intraday basis, watch 0.8800 as this level is a bespoke support. Resistance is seen at 0.8828/30.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8804, and next resistance can be seen at 0.8805 (Daily Open), 0.8809 (Daily Classic PP), 0.8809 (Hourly 20 EMA), 0.8810 (Hourly 100 SMA) and 0.8819 (Daily High).
Support below can be found at 0.8803 (Daily Low), 0.8795 (Yesterday's Low), 0.8794 (Daily Classic S1), 0.8788 (Weekly Low) and 0.8788 (Weekly Classic PP).