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17 Sep 2013
NZD/USD downwards in tandem with “Aussie”
FXstreet.com (Athens)- The NZD/USD after capturing some gains on the RBA release, soon it retraced back paring all of its gains.
The NZD/USD on the down level again in the well known tandem with its Antipodean counterpart
Investors were looking on some great opportunity in the early Asian season to take advantage of the RBA minutes and the well expected volatility to gather some gains. Having moved in a very confined range the preceding 24-hours (just a cent range), investors all over the globe tried to find more suitable, settled circumstances to emerge in Asia. The great volatility that was observed during the RBA minutes, put paid the most to the above depicted investors notions, as the “kiwi” mirrored exactly the initial higher move of its antipodean counterpart, followed by its heavy sell off as short-term traders deemed the RBA Minutes to be devoid of any major fuel catalyst, cut weak longs.
Technical Perspective and Outlook on NZD/USD
Traders should be aware of the fact that the “kiwi” is again and again with its antipodean counterpart, the “Aussie”, therefore it could be a great idea to look simultaneously at both pairs when trading one of them. What’s more we are ahead of crucial data regarding both the New Zealand economy and the US one, respectively (GDP and FOMC minutes). The low that shaped yesterday at 0.8130, as well as the 0.8205 high as of the 22th of May, should be seen as the most significant support and resistance.
The NZD/USD on the down level again in the well known tandem with its Antipodean counterpart
Investors were looking on some great opportunity in the early Asian season to take advantage of the RBA minutes and the well expected volatility to gather some gains. Having moved in a very confined range the preceding 24-hours (just a cent range), investors all over the globe tried to find more suitable, settled circumstances to emerge in Asia. The great volatility that was observed during the RBA minutes, put paid the most to the above depicted investors notions, as the “kiwi” mirrored exactly the initial higher move of its antipodean counterpart, followed by its heavy sell off as short-term traders deemed the RBA Minutes to be devoid of any major fuel catalyst, cut weak longs.
Technical Perspective and Outlook on NZD/USD
Traders should be aware of the fact that the “kiwi” is again and again with its antipodean counterpart, the “Aussie”, therefore it could be a great idea to look simultaneously at both pairs when trading one of them. What’s more we are ahead of crucial data regarding both the New Zealand economy and the US one, respectively (GDP and FOMC minutes). The low that shaped yesterday at 0.8130, as well as the 0.8205 high as of the 22th of May, should be seen as the most significant support and resistance.