18 Jul 2014
NZD/USD consolidated and awaits RBNZ moves
FXStreet (Guatemala) - NZD/USD is trading at 0.8679, up 0.13% on the day, having posted a daily high at 0.8697 and low at 0.8649.
NZD/USD has pulled back some gains at the end of the Asia week and looks set on a consolidation into the closing day in the US session. As per next week, Analysts at TD Securities explained that, the RBNZ is expected to add another +25bp to the Official Cash Rate to 3.5%, as did Elisabeth Andreae, analyst at Commerzbank who said that they expect the RBNZ to hike rates once more next week and then pause. “The RBNZ still clearly assesses the NZD as overvalued”.
NZD/USD Levels
Spot is presently trading at 0.8680, and next resistance can be seen at 0.8697 (Daily High), 0.8722 (Yesterday's High) and 0.8730 (Hourly 100 SMA). Support below can be found at 0.8678 (Hourly 20 EMA) and 0.8665 (Yesterday's Low).
NZD/USD has pulled back some gains at the end of the Asia week and looks set on a consolidation into the closing day in the US session. As per next week, Analysts at TD Securities explained that, the RBNZ is expected to add another +25bp to the Official Cash Rate to 3.5%, as did Elisabeth Andreae, analyst at Commerzbank who said that they expect the RBNZ to hike rates once more next week and then pause. “The RBNZ still clearly assesses the NZD as overvalued”.
NZD/USD Levels
Spot is presently trading at 0.8680, and next resistance can be seen at 0.8697 (Daily High), 0.8722 (Yesterday's High) and 0.8730 (Hourly 100 SMA). Support below can be found at 0.8678 (Hourly 20 EMA) and 0.8665 (Yesterday's Low).