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20 May 2014
NZD/USD is drifting down the river
FXStreet (Moscow) - NZD/USD has retreated from its daily high of 0.8636 and settled at 0.8621
If the RBNZ pauses
The growing expectations of the RBNZ slowing the pace of tightening may continue to weigh on the pair in the near-term up until the June, 12 meeting. The combination of weak inflation and the high exchange rate of kiwi is a strong argument to reassess its monetary outlook. RBNZ inflation expectations scheduled for release on Thursday may bring some interesting development for the pair. The kiwi is trading not far away from the strong support level at 0.8630, and if the break below is confirmed, the sell-off may gather the pace with the next target at 0.8600 support level.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8635, with support below at 0.8613, 0.8599 and 0.8577, with resistance above at 0.8649, 0.8671 and 0.8685 Hourly Moving Averages are bearish, with the 200SMA at 0.8643 and the daily 20EMA at 0.8630. Hourly RSI is bearish at 33.
If the RBNZ pauses
The growing expectations of the RBNZ slowing the pace of tightening may continue to weigh on the pair in the near-term up until the June, 12 meeting. The combination of weak inflation and the high exchange rate of kiwi is a strong argument to reassess its monetary outlook. RBNZ inflation expectations scheduled for release on Thursday may bring some interesting development for the pair. The kiwi is trading not far away from the strong support level at 0.8630, and if the break below is confirmed, the sell-off may gather the pace with the next target at 0.8600 support level.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8635, with support below at 0.8613, 0.8599 and 0.8577, with resistance above at 0.8649, 0.8671 and 0.8685 Hourly Moving Averages are bearish, with the 200SMA at 0.8643 and the daily 20EMA at 0.8630. Hourly RSI is bearish at 33.