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22 Apr 2014
NZD/USD testing channel resistance
FXStreet (Guatemala) - Currently, NZD/USD is trading at 0.8571 testing resistances without conviction in a slow market.
NZD/USD’s main event this week will be the RBNZ, however there may not be many surprises in that and as Stephen Toplis, Head of Research at BNZ explained, it remains almost certain the Reserve Bank will hike another 25 basis points, to 3.00% this Thursday. “This is not just our view, but that of all polled analysts as well as being virtually fully priced by the money markets”. Meanwhile, daily RSI is in neutral territory at 47.79. On the hourly NZD/USD chart, the 200 SMA is declining and currently at 0.8575, down from the previous hour close at 0.8635.
NZD/USD Levels
Current price is 0.8572, with resistance ahead at 0.8573 (Daily Open), 0.8576 (Daily Classic PP), 0.8589 (Daily High), 0.8593 (Hourly 100 SMA) and 0.8596 (Daily Classic R1). Next support to the downside can be found at 0.8570 (Hourly 20 EMA), 0.8569 (Weekly Low), 0.8563 (Daily Low), 0.8555 (Yesterday's Low) and 0.8548 (Daily Classic S1).
NZD/USD’s main event this week will be the RBNZ, however there may not be many surprises in that and as Stephen Toplis, Head of Research at BNZ explained, it remains almost certain the Reserve Bank will hike another 25 basis points, to 3.00% this Thursday. “This is not just our view, but that of all polled analysts as well as being virtually fully priced by the money markets”. Meanwhile, daily RSI is in neutral territory at 47.79. On the hourly NZD/USD chart, the 200 SMA is declining and currently at 0.8575, down from the previous hour close at 0.8635.
NZD/USD Levels
Current price is 0.8572, with resistance ahead at 0.8573 (Daily Open), 0.8576 (Daily Classic PP), 0.8589 (Daily High), 0.8593 (Hourly 100 SMA) and 0.8596 (Daily Classic R1). Next support to the downside can be found at 0.8570 (Hourly 20 EMA), 0.8569 (Weekly Low), 0.8563 (Daily Low), 0.8555 (Yesterday's Low) and 0.8548 (Daily Classic S1).