5 May 2014
NZD/USD keeps rate at 3-week high
FXStreet (Bali) - NZD/USD has retained its hefty levels around 0.8660 at the open of Asia, with Friday's major reversal suggesting risk remain on the upside near term.
According to Jim Langlands, Founder at FXCharts: "The indicators are somewhat mixed but retain a mildly positive bias, albeit that the dailies do not look all that convincing, but the market will now target 0.8700 and then the 3 year high, -4 April- at 0.8745."
On the downside, Jim expects the Kiwi "to find minor buyers at around 0.8640, ahead of Fridays 0.8592 low, where the 100/200 HMA’s will hold it up", the Analyst said.
According to Jim Langlands, Founder at FXCharts: "The indicators are somewhat mixed but retain a mildly positive bias, albeit that the dailies do not look all that convincing, but the market will now target 0.8700 and then the 3 year high, -4 April- at 0.8745."
On the downside, Jim expects the Kiwi "to find minor buyers at around 0.8640, ahead of Fridays 0.8592 low, where the 100/200 HMA’s will hold it up", the Analyst said.