29 Oct 2013
NZD/USD tracking the descending trend line
FXstreet.com (London) - NZD/USD is lower again and maintaining the descending trend line for a low of 0.8234.
Research teams at TD securities said that polling for the RBNZ cash rate profile revealed some aggressive tightening expectations for 2014. “We are in line with the median expecting +100bp to 3.5% by end-2014, but 1/4 of analysts expect up to +150bp of tightening. Perhaps when RBNZ is dovish later this week (Thursday 9am NZT) this will water down some of those aggressive expectations”.
NZD/USD Levels
The 20 DMA is 0.8358, the 50 DMA is 0.8173 and the 200 DMA is 0.8183. RSI (14) reads 42.44. Supports are ascending from 0.8165, 0.8194, 0.8232, 0.8245, 0.8273, 0.8332, 0.8359, 0.8380 and 0.8415.
Research teams at TD securities said that polling for the RBNZ cash rate profile revealed some aggressive tightening expectations for 2014. “We are in line with the median expecting +100bp to 3.5% by end-2014, but 1/4 of analysts expect up to +150bp of tightening. Perhaps when RBNZ is dovish later this week (Thursday 9am NZT) this will water down some of those aggressive expectations”.
NZD/USD Levels
The 20 DMA is 0.8358, the 50 DMA is 0.8173 and the 200 DMA is 0.8183. RSI (14) reads 42.44. Supports are ascending from 0.8165, 0.8194, 0.8232, 0.8245, 0.8273, 0.8332, 0.8359, 0.8380 and 0.8415.