21 Jan 2014
NZD/USD losing steam at 0.8338 the high
FXstreet.com (Guatemala) - The NZD/USD bounced from 82.75 to reach a high of 83.38 on a better than expected CPI number.
The NZD/USD is higher on the possibility of the RBNZ hiking rates this month as CPI confirms the inflationary environment that is the New Zealand economy. The CPI number came in at +0.1% from -0.1% expected. Meanwhile, the broader market is however expecting a hike in March and the knee jerk reaction ahead of 0.8362 key resistance has since tailed off but supported at 0.8310.
NZD/USD Levels
The 20 DMA is 0.8253, the 50 DMA is 0.8245 and the 200 DMA is 0.8149. RSI (14) reads 45.29. Supports are ascending from 0.8140, 0.8180, 0.8207, 0.8225, 0.8296 and 0.8310. Spot is 0.8318 while key resistance comes as 0.8362 and then 0.8433.
The NZD/USD is higher on the possibility of the RBNZ hiking rates this month as CPI confirms the inflationary environment that is the New Zealand economy. The CPI number came in at +0.1% from -0.1% expected. Meanwhile, the broader market is however expecting a hike in March and the knee jerk reaction ahead of 0.8362 key resistance has since tailed off but supported at 0.8310.
NZD/USD Levels
The 20 DMA is 0.8253, the 50 DMA is 0.8245 and the 200 DMA is 0.8149. RSI (14) reads 45.29. Supports are ascending from 0.8140, 0.8180, 0.8207, 0.8225, 0.8296 and 0.8310. Spot is 0.8318 while key resistance comes as 0.8362 and then 0.8433.