8 Aug 2013
NZD/USD consolidated
FXstreet.com (Barcelona) - NZD/USD is trading is steady on the 0.7900 handle trading at 0.7975 in the opening hour of the European market.
NZD/USD had reached a high of 0.8000 yesterday when the markets were reacting to the BoE inflation report. The pair drifted off over the London afternoon and NY to find support overnight and a low at 0.7933. The pair was then buoyed by impressive Chinese trade data in July. On the calendar, we have some US data today that will come in the afternoon in the form of Initial Jobless Claims (July 27). Overnight, New Zealand Electronic Card Retail Sales (MoM) (Jun) and (YoY) (Jun) will be released also.
NZD/USD eyes 0.8000
NZD/USD is ticking higher but generally 0.8000 should offer a tough resistance line to break. Closes above brings the 0.8100 handle into play again for meeting June and July highs. The 20 dma is 0.7932, 50 dma 0.7898, and 200 dma 0.8218. RSI (9) reads 52.47. Supports are ascending from 0.7737, 0.7782, 0.7823, and 0.7884. Spot is 0.7975 while resistances are coming in at 0.7997, 0.8016, 0.8039, 0.8055
NZD/USD had reached a high of 0.8000 yesterday when the markets were reacting to the BoE inflation report. The pair drifted off over the London afternoon and NY to find support overnight and a low at 0.7933. The pair was then buoyed by impressive Chinese trade data in July. On the calendar, we have some US data today that will come in the afternoon in the form of Initial Jobless Claims (July 27). Overnight, New Zealand Electronic Card Retail Sales (MoM) (Jun) and (YoY) (Jun) will be released also.
NZD/USD eyes 0.8000
NZD/USD is ticking higher but generally 0.8000 should offer a tough resistance line to break. Closes above brings the 0.8100 handle into play again for meeting June and July highs. The 20 dma is 0.7932, 50 dma 0.7898, and 200 dma 0.8218. RSI (9) reads 52.47. Supports are ascending from 0.7737, 0.7782, 0.7823, and 0.7884. Spot is 0.7975 while resistances are coming in at 0.7997, 0.8016, 0.8039, 0.8055