7 Feb 2014
NZD/USD constructive?
FXStreet (Guatemala) - NZD/USD has rallied towards 0.83 and is forming a constructive pattern on the short term charts which requires a break to the upside to confirm the possibility of a bullish formation.
For now, NZD/USD looks like it is in a neutral position, locked between 0.8050 and 0.8400. US data has not been as promising as markets have been anticipating and this alone may contribute to further upside pressures. The NFP’s poor result is an underlying factor of the pairs price action currently and may persist yet.
NZD/USD Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8241 and the 200 DMA is 0.8133. Supports are ascending from 0.8138, 0.8163, 0.8187, 0.8210,
0.8227.Spot is 0.8283 while resistances are 0.8305, 0.8346 and 0.8362.
For now, NZD/USD looks like it is in a neutral position, locked between 0.8050 and 0.8400. US data has not been as promising as markets have been anticipating and this alone may contribute to further upside pressures. The NFP’s poor result is an underlying factor of the pairs price action currently and may persist yet.
NZD/USD Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8241 and the 200 DMA is 0.8133. Supports are ascending from 0.8138, 0.8163, 0.8187, 0.8210,
0.8227.Spot is 0.8283 while resistances are 0.8305, 0.8346 and 0.8362.