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14 May 2015
NZD/USD: Rallies continue towards daily 100 DMA
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7545 with a high of 0.7572 and a low of 0.7476.
NZD/USD has been in recovery overnight on a weaker greenback and stronger commodities and has seen some early action in Asia ahead of the following data that extended the rally. Data for New Zealand arrived with the business sector in good health still, although lower than the previous reading of 54.5 and came today at 51.8, adding to the bid while the retail sales came in and smashed expectations at 2.7% on the quarter.
Technically, NZD/USD is up to the EMA 100 and heads towards the EMA 200 on the 4hr charts. Should the currency continue on its northernly trajectory we have 0.7580 (daily 100 DMA) and 0.7770 as daily stick target points. To the downside, 0.7420 is a supporting area. Hourly Stoch RSI (14) reads 100 and RSI (14) stands at 76 in oversold territory.
NZD/USD has been in recovery overnight on a weaker greenback and stronger commodities and has seen some early action in Asia ahead of the following data that extended the rally. Data for New Zealand arrived with the business sector in good health still, although lower than the previous reading of 54.5 and came today at 51.8, adding to the bid while the retail sales came in and smashed expectations at 2.7% on the quarter.
Technically, NZD/USD is up to the EMA 100 and heads towards the EMA 200 on the 4hr charts. Should the currency continue on its northernly trajectory we have 0.7580 (daily 100 DMA) and 0.7770 as daily stick target points. To the downside, 0.7420 is a supporting area. Hourly Stoch RSI (14) reads 100 and RSI (14) stands at 76 in oversold territory.