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18 Jun 2013
NZD/USD 0.7940 low
FXstreet.com (London) - NZD/USD printed a low of the session at 0.7940 and below the 200d ma
NZD/USD was printing 0.8100 last night before the pair was caught up in the move lower when the AUD slid after the release of the RBA Minutes (to a low of $US0.9500), dragging the Kiwi along with it (-1% each). Said Alvin Pontoh for TD Securities. He went onto say that paradoxically, there was nothing in the Minutes to suggest that the RBA was in any rush to cut rates, and indeed the overnight swap markets pared its expectation for a July rate cut from 27% to 22% following the Minutes’ release.
NZD/USD posed for 0.7760
NZD/USD has a resistance around the pivot 0.8020 while momentum indicators bring 0.7900 into focus targeting 0.7760 within a heavy set of bearish indicators, breaking through EMA10 and SMA200.
NZD/USD was printing 0.8100 last night before the pair was caught up in the move lower when the AUD slid after the release of the RBA Minutes (to a low of $US0.9500), dragging the Kiwi along with it (-1% each). Said Alvin Pontoh for TD Securities. He went onto say that paradoxically, there was nothing in the Minutes to suggest that the RBA was in any rush to cut rates, and indeed the overnight swap markets pared its expectation for a July rate cut from 27% to 22% following the Minutes’ release.
NZD/USD posed for 0.7760
NZD/USD has a resistance around the pivot 0.8020 while momentum indicators bring 0.7900 into focus targeting 0.7760 within a heavy set of bearish indicators, breaking through EMA10 and SMA200.