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12 Feb 2014
Kiwi knows how to fly high
FXStreet (Moscow) - NZD/USD bulls pushed the pair to new highs at 0.8354 and decided to take breath as the pair switched to the consolidation mode at current level of 0.8346.
NZD/USD longer term perspectives have brightened
Yesterday Kiwi managed the first daily close above 0.8300 since the middle of January, supported by general market reaction to Yellen’s testimony in Congress. Today the New Zealand currency is still lucky as it is one of the best performing currencies in Asia. Traders just yawed at the New Zealand's retail sales data based on electronic card transactions that fell 0.5% in January against forecasted +0.6% m/m as NZD/USD retraced slightly to the support level of 0.8300 and resumed the growth. Chinese trade balance data report gave Kiwi additional boost as it showed that the trade surplus grew to $31.86 bn in January against 25 bn in December and forecasted drop to 23 bn. Now NZD/USD is poking at the resistance level formed by yesterday’s high, once it is broken the upside may accelerate to 0.8374 and 0.8396 (Jan 15 high). The closest resistance comes at 0.8324-20 and followed by 0.8300 where реу intraday downside is likely to be stopped.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8310, with support below at 0.8275, 0.8226 and 0.8191, with resistance above at 0.8359, 0.8394 and 0.8443. Hourly Moving Averages are bullish, with the 200SMA at 0.8209 and the daily 20EMA at 0.8245. Hourly RSI is neutral at 62.
NZD/USD longer term perspectives have brightened
Yesterday Kiwi managed the first daily close above 0.8300 since the middle of January, supported by general market reaction to Yellen’s testimony in Congress. Today the New Zealand currency is still lucky as it is one of the best performing currencies in Asia. Traders just yawed at the New Zealand's retail sales data based on electronic card transactions that fell 0.5% in January against forecasted +0.6% m/m as NZD/USD retraced slightly to the support level of 0.8300 and resumed the growth. Chinese trade balance data report gave Kiwi additional boost as it showed that the trade surplus grew to $31.86 bn in January against 25 bn in December and forecasted drop to 23 bn. Now NZD/USD is poking at the resistance level formed by yesterday’s high, once it is broken the upside may accelerate to 0.8374 and 0.8396 (Jan 15 high). The closest resistance comes at 0.8324-20 and followed by 0.8300 where реу intraday downside is likely to be stopped.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8310, with support below at 0.8275, 0.8226 and 0.8191, with resistance above at 0.8359, 0.8394 and 0.8443. Hourly Moving Averages are bullish, with the 200SMA at 0.8209 and the daily 20EMA at 0.8245. Hourly RSI is neutral at 62.