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18 Mar 2014
NZD holding territory despite risk-off play
FXStreet (Guatemala) - NZD/USD is climbing higher regardless of the fact that, in the main, markets are dominated by news relating to the Ukrainian situation.
Strategists at TD Securities explained that the fact that the NZD is the second best-performing currency spoils the overall risk-off impression but that seems to be the way the markets are heading overall so far today. Meanwhile, NZD/USD has made a high of 0.8243 and supply there isn’t particularly convincing while the pair holds onto impressive gains above the 0.86 handle. From the calendar, there has been little to go on, however, NZD/USD was supported with US CPI data that was relatively in line with expectations, although February’s year on year read slightly lower at 1.1% missing the consensus of 1.2%.
NZD/USD Levels
The 20 DMA is 0.8406, the 50 DMA is 0.8328 and the 200 DMA is 0.8163. RSI (14) reads 79.10. Supports are ascending from 0.8449, 0.8480, 0.8513, 0.8542 and 0.8560. Spot is 0.8624 while resistances are 0.8643, 0.8676 and 0.8733.
Strategists at TD Securities explained that the fact that the NZD is the second best-performing currency spoils the overall risk-off impression but that seems to be the way the markets are heading overall so far today. Meanwhile, NZD/USD has made a high of 0.8243 and supply there isn’t particularly convincing while the pair holds onto impressive gains above the 0.86 handle. From the calendar, there has been little to go on, however, NZD/USD was supported with US CPI data that was relatively in line with expectations, although February’s year on year read slightly lower at 1.1% missing the consensus of 1.2%.
NZD/USD Levels
The 20 DMA is 0.8406, the 50 DMA is 0.8328 and the 200 DMA is 0.8163. RSI (14) reads 79.10. Supports are ascending from 0.8449, 0.8480, 0.8513, 0.8542 and 0.8560. Spot is 0.8624 while resistances are 0.8643, 0.8676 and 0.8733.