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9 Oct 2013
NZD/USD in a tight range under pivot
FXstreet.com (London) - NZD/USD is trading sub the pivot of 0.8304 at 0.8288, having printed a high of 0.8293 and trading I a tight range with a low of 0.8287.
Research teams at TD Securities said for New Zealand that business confidence as measured by the NZIER rose from +32 to +38 in Q3, part of the steady recovery from the low of -4 in June 2012. This print surpasses the +36 peak in Q3 2009 and returns to the Q1 1999 high of +47. Not new news, however, with the monthly surveys already upbeat and hinting at GDP growth of 4%/yr or so.
NZD/USD Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8054 and the 200 DMA is 0.8183. RSI (14) reads 59.43. Supports are ascending from 0.8194, 0.8228, 0.8247 and 0.8265. Spot is 0.8288 while resistances are 0.8352, 0.8374, 0.8390 and 0.8436.
Research teams at TD Securities said for New Zealand that business confidence as measured by the NZIER rose from +32 to +38 in Q3, part of the steady recovery from the low of -4 in June 2012. This print surpasses the +36 peak in Q3 2009 and returns to the Q1 1999 high of +47. Not new news, however, with the monthly surveys already upbeat and hinting at GDP growth of 4%/yr or so.
NZD/USD Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8054 and the 200 DMA is 0.8183. RSI (14) reads 59.43. Supports are ascending from 0.8194, 0.8228, 0.8247 and 0.8265. Spot is 0.8288 while resistances are 0.8352, 0.8374, 0.8390 and 0.8436.