17 Aug 2015
NZD/USD robust at critical support zone
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6573 with a high of 0.6584 and a low of 0.6528.
NZD/USD popped higher to test the vicinity of the 0.6580 resistance in the US session and was pushed back a step to prevailing levels as we await the Asian session to kick in. The price is within positive territory while holding above 0.6550 and threatens the downtrend from 0.6640 and double top of last week's closing business.
The greenback was softer on a big miss in the Empire state manufacturing index at -14.92 vs 5.00 expected but the knee jerk was shallow on a low tier event and the main focus will stay with the CPI's from the US and FOMC minutes this week. We have visitor arrivals for the NZ economy towards the end of the week as the only note worthy calendared event to note for the nation otherwise.
NZD/USD range bound
NZD/USD finds the 0.6640 tough and 0.6480 support holds the downside within a sideways channel. A break to the upside brings in 0.6720/38 coming as first major resistance ahead of 0.7080 guarding the bearish gap of early June trade.
NZD/USD popped higher to test the vicinity of the 0.6580 resistance in the US session and was pushed back a step to prevailing levels as we await the Asian session to kick in. The price is within positive territory while holding above 0.6550 and threatens the downtrend from 0.6640 and double top of last week's closing business.
The greenback was softer on a big miss in the Empire state manufacturing index at -14.92 vs 5.00 expected but the knee jerk was shallow on a low tier event and the main focus will stay with the CPI's from the US and FOMC minutes this week. We have visitor arrivals for the NZ economy towards the end of the week as the only note worthy calendared event to note for the nation otherwise.
NZD/USD range bound
NZD/USD finds the 0.6640 tough and 0.6480 support holds the downside within a sideways channel. A break to the upside brings in 0.6720/38 coming as first major resistance ahead of 0.7080 guarding the bearish gap of early June trade.