13 Feb 2014
NZD/USD holds ground above the key support of 0.8300
FXStreet (Moscow) - NZD/USD came under selling pressure following the Australian labor market report, though it is still above 0.8300 after touching intraday lows at 0.8296.
NZD/USD is under pressure but it still holds well
NZD/USD touched an intraday high at 0.8370 yesterday but finished the day nearly unchanged at 0.8317. Kiwi was boosted in Asia by much better than expected Chinese trade balance data, but it seems that European and American traders put it in their black books as it moved down steadily since the beginning of the European session. New Zealand Business Manufacturing Index came out at 56.2 against 56.4 in December, though kiwi traders pretended they did not notice it. Later on NZD/USD movements were influenced by Aussie dynamic: the Australian currency crashed on worse than expected labor market data and pushed kiwi below 0.8300 for a short time. In Europe NZD/USD fate will be defined by speculative positioning ahead of US retail sales data report published later. The key levels to watch 0.8334 followed by 0.8370 on the upside and 0.8300 on the downside. Once it is broken the pair may return to 0.8262.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8330, with support below at 0.8291, 0.8264 and 0.8225, with resistance above at 0.8357, 0.8396 and 0.8423. Hourly Moving Averages are mixed, with the 200SMA at 0.8231 and the daily 20EMA at 0.8252. Hourly RSI is neutral at 36.
NZD/USD is under pressure but it still holds well
NZD/USD touched an intraday high at 0.8370 yesterday but finished the day nearly unchanged at 0.8317. Kiwi was boosted in Asia by much better than expected Chinese trade balance data, but it seems that European and American traders put it in their black books as it moved down steadily since the beginning of the European session. New Zealand Business Manufacturing Index came out at 56.2 against 56.4 in December, though kiwi traders pretended they did not notice it. Later on NZD/USD movements were influenced by Aussie dynamic: the Australian currency crashed on worse than expected labor market data and pushed kiwi below 0.8300 for a short time. In Europe NZD/USD fate will be defined by speculative positioning ahead of US retail sales data report published later. The key levels to watch 0.8334 followed by 0.8370 on the upside and 0.8300 on the downside. Once it is broken the pair may return to 0.8262.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8330, with support below at 0.8291, 0.8264 and 0.8225, with resistance above at 0.8357, 0.8396 and 0.8423. Hourly Moving Averages are mixed, with the 200SMA at 0.8231 and the daily 20EMA at 0.8252. Hourly RSI is neutral at 36.