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12 Dec 2014
NZD/USD contained within familiar range, awaits key break
FXStreet (Guatemala) - NZD/USD is trading at 0.7779, down -0.28% on the day, having posted a daily high at 0.7842 and low at 0.7770.
NZD/USD has continued to move along the support of the 0.7780 handle and remains contained o the upside of the 0.7840 resistance. There have not been any breakouts and we remain in bearish territory on the weekly chart with the pair below the ascending support line and 0.8000.
Developments remain with a hawkish RBNZ while the price of oil is taking grip of the markets globally and adding to disinflationary pressures. US yields are lower as a result and a supply of the greenback has come on along with lower US PPI results missing expectations.
Next week’s US CPI and FOMC will take the hot spot after the Japanese elections this weekend and beginning of next week. Seasonally, the Kiwi outperforms at this time of year vs the US dollar. For the meantime, the pair remains contained in familiar ranges and aforementioned levels.
NZD/USD has continued to move along the support of the 0.7780 handle and remains contained o the upside of the 0.7840 resistance. There have not been any breakouts and we remain in bearish territory on the weekly chart with the pair below the ascending support line and 0.8000.
Developments remain with a hawkish RBNZ while the price of oil is taking grip of the markets globally and adding to disinflationary pressures. US yields are lower as a result and a supply of the greenback has come on along with lower US PPI results missing expectations.
Next week’s US CPI and FOMC will take the hot spot after the Japanese elections this weekend and beginning of next week. Seasonally, the Kiwi outperforms at this time of year vs the US dollar. For the meantime, the pair remains contained in familiar ranges and aforementioned levels.