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10 Dec 2014
NZD/USD remains strong against the odds
FXStreet (Guatemala) - NZD/USD is trading at 0.7706, up 0.35% on the day, having posted a daily high at 0.7731 and low at 0.7662.
The Kiwi is high in respect of the RBNZ’s desired lower levels as it “remains unjustified and unsustainable” at these current levels. The bird is causing concerns in respect of the disinflation environment also as a result of the rate hikes earlier in the year.
The RBNZ is coming up and we will listen to the outcomes in the press release for further clues on what the interest rate policy is likely to be but a neutral stance might be expected at this stage and no changes are expected currently. The economy is starting to slow though with inflation at just 1% now and the bird will continue to suffer on the back of the fall in the prices milk, being the country’s largest expert.
In the background of this, we have the FOMC and a market shifting away from the greenback on a seasonal adjustment that usually takes place at this time of the year. Despite the pace of the greenbacks recent advances on the closing quarter, it seems sensible not to be too long of the greenback leading into year end, the FOMC and amongst a shift in speculation in respect to the Feds next possible move that is possibly moving more towards a wait and see stance into 2015.
NZD/USD noteworthy levels
Spot is presently trading at 0.7707, and next resistance can be seen at 0.7731 (Daily High), 0.7759 (Hourly 200 SMA), 0.7760 (Daily Classic R1), 0.7764 (Yesterday's High) and 0.7775 (Weekly Classic PP). Next support to the downside can be found at 0.7705 (Hourly 20 EMA), 0.7703 (Hourly 100 SMA), 0.7684 (Daily Classic PP), 0.7680 (Daily Open) and 0.7662 (Daily Low).
The Kiwi is high in respect of the RBNZ’s desired lower levels as it “remains unjustified and unsustainable” at these current levels. The bird is causing concerns in respect of the disinflation environment also as a result of the rate hikes earlier in the year.
The RBNZ is coming up and we will listen to the outcomes in the press release for further clues on what the interest rate policy is likely to be but a neutral stance might be expected at this stage and no changes are expected currently. The economy is starting to slow though with inflation at just 1% now and the bird will continue to suffer on the back of the fall in the prices milk, being the country’s largest expert.
In the background of this, we have the FOMC and a market shifting away from the greenback on a seasonal adjustment that usually takes place at this time of the year. Despite the pace of the greenbacks recent advances on the closing quarter, it seems sensible not to be too long of the greenback leading into year end, the FOMC and amongst a shift in speculation in respect to the Feds next possible move that is possibly moving more towards a wait and see stance into 2015.
NZD/USD noteworthy levels
Spot is presently trading at 0.7707, and next resistance can be seen at 0.7731 (Daily High), 0.7759 (Hourly 200 SMA), 0.7760 (Daily Classic R1), 0.7764 (Yesterday's High) and 0.7775 (Weekly Classic PP). Next support to the downside can be found at 0.7705 (Hourly 20 EMA), 0.7703 (Hourly 100 SMA), 0.7684 (Daily Classic PP), 0.7680 (Daily Open) and 0.7662 (Daily Low).