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28 Mar 2014
NZD/USD reached 0.8795, and stumbled
FXStreet (Moscow) - NZD/USD is trading within the spitting distance from 0.87 area, looking to new multi-year highs, though now we see a retracement to 0.8680 area.
The kiwi is on the way to multi-year highs
The kiwi is probably the best performing currency of the year to date, as it rose to its highest level against the greenback since August 2011 posting 0.8695 by the moment. Better than expected trade numbers coupled with positive comments from RBNZ Deputy Governor Spencer supported the pair’s rally. The fact that even more than 7% rise over the past 2 months didn’t scare away Spencer will be the main catalyst for the kiwi near-term. If it manages to break through strong resistance at 0.87 the next target will be at 0.8749, and all we need now is just a little period of USD weakness.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8649, with support below at 0.8611, 0.8549 and 0.8511, with resistance above at 0.8711, 0.8749 and 0.8811. Hourly Moving Averages are bullish, with the 200SMA at 0.8580 and the daily 20EMA at 0.8515. Hourly RSI is neutral at 60.
The kiwi is on the way to multi-year highs
The kiwi is probably the best performing currency of the year to date, as it rose to its highest level against the greenback since August 2011 posting 0.8695 by the moment. Better than expected trade numbers coupled with positive comments from RBNZ Deputy Governor Spencer supported the pair’s rally. The fact that even more than 7% rise over the past 2 months didn’t scare away Spencer will be the main catalyst for the kiwi near-term. If it manages to break through strong resistance at 0.87 the next target will be at 0.8749, and all we need now is just a little period of USD weakness.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8649, with support below at 0.8611, 0.8549 and 0.8511, with resistance above at 0.8711, 0.8749 and 0.8811. Hourly Moving Averages are bullish, with the 200SMA at 0.8580 and the daily 20EMA at 0.8515. Hourly RSI is neutral at 60.