31 Jan 2014
NZD/USD is falling under two factors
FXstreet.com (Moscow) - The NZD/USD started the day on positive note reaching session high at 0.8180 from 0.8165 at open, but the Wheeler’s comments slashed the pair back to 0.8130 where it’s trading now.
The kiwi is offended by Wheller
The NZD/USD lovers expected more aggression from the RBNZ’s Wheeler, and though he did make point about the rates adjustment and growing inflation pressure, he also stressed the NZD is too high to support the economic growth. That thing made the kiwi lose 40 points, and after a little pause the pair resumed the slide right at the time when Reuters released its poll results. The survey showed that Japanese fund managers prefer to cut stocks holdings, and buy bonds. It made the pair lose its ground to 0.8130 area, where it may find some minor support with 0.8110 to follow. The rising appetites for risk assets may support the pair rebound with initial target at 0.8164 where we see central pivot point for today.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8164, with support below at 0.8110 (S1), 0.8071 (S2), and 0.8017 (S3) with resistance above at 0.8203 (R1), 0.8257 (R2), and 0.8296 (R3). Hourly Moving Averages are bearish, with the 200SMA at 0.8263 and the daily 20EMA bearish at 0.8258. Hourly RSI is neutral at 42.
The kiwi is offended by Wheller
The NZD/USD lovers expected more aggression from the RBNZ’s Wheeler, and though he did make point about the rates adjustment and growing inflation pressure, he also stressed the NZD is too high to support the economic growth. That thing made the kiwi lose 40 points, and after a little pause the pair resumed the slide right at the time when Reuters released its poll results. The survey showed that Japanese fund managers prefer to cut stocks holdings, and buy bonds. It made the pair lose its ground to 0.8130 area, where it may find some minor support with 0.8110 to follow. The rising appetites for risk assets may support the pair rebound with initial target at 0.8164 where we see central pivot point for today.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8164, with support below at 0.8110 (S1), 0.8071 (S2), and 0.8017 (S3) with resistance above at 0.8203 (R1), 0.8257 (R2), and 0.8296 (R3). Hourly Moving Averages are bearish, with the 200SMA at 0.8263 and the daily 20EMA bearish at 0.8258. Hourly RSI is neutral at 42.