4 Nov 2013
NZD/USD upwards due to RBNZ tightening expectations, Aussie outperformance
FXstreet.com (Athens) – The NZD/USD is moving upwards the last couple of hours partly due to the RBNZ which reiterated its intention to hike in 2014 over the weekend, as well as due to the Aussie upwards movement.
NZD/USD is now trading sidelines baffled by greenback’s strengthening and RBNZ tightening expectations
The NZD/USD has been trading upwards on Monday since the kick off of the Asian trading session, apart from the last hour, in which is caught amidst a sideways trend shift. Generally, the kiwi got a solid boost both on the outperforming Aussie as the NZD dollar almost always tracks its antipodean cousin trend behavior, as well as on the weekend comments by RBNZ’s governor Wheeler who repeated that the RBNZ’s intention is to hike rates in 2014. Traders should bear in mind that the constant reminder on behalf of RBNZ officials for such a hike, will probably support the kiwi into next year. On the other hand, the cross might get baffled by the resistance of the American dollar.
Technical Aspects on the NZD/USD
Imre Speizer on behalf of the Westpac Global Strategy Team suggests that “Near term, the US dollar’s pull should dominate, putting 0.8190 at risk. Longer term, we target 0.8600 by Mar-14.”
NZD/USD is now trading sidelines baffled by greenback’s strengthening and RBNZ tightening expectations
The NZD/USD has been trading upwards on Monday since the kick off of the Asian trading session, apart from the last hour, in which is caught amidst a sideways trend shift. Generally, the kiwi got a solid boost both on the outperforming Aussie as the NZD dollar almost always tracks its antipodean cousin trend behavior, as well as on the weekend comments by RBNZ’s governor Wheeler who repeated that the RBNZ’s intention is to hike rates in 2014. Traders should bear in mind that the constant reminder on behalf of RBNZ officials for such a hike, will probably support the kiwi into next year. On the other hand, the cross might get baffled by the resistance of the American dollar.
Technical Aspects on the NZD/USD
Imre Speizer on behalf of the Westpac Global Strategy Team suggests that “Near term, the US dollar’s pull should dominate, putting 0.8190 at risk. Longer term, we target 0.8600 by Mar-14.”