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2 Oct 2013
NZD/USD stalling at 0.8280 resistance
FXstreet.com (London) - NZD/USD is stalling ahead of 0.8280 resistance.
NZD/USD squeezes may have altered the broader context for AUD and NZD, but they are still seen as corrective. This may result in more protracted consolidation patterns (especially so for NZD), but signs of faltering should allow for shorts to be rebuilt into interim rebounds, explained Westpac research teams. They also said, “If agreement cannot be reached on Capital Hill, the US could default on its debt. Both the above US fiscal issues are negative for global risk appetite, and should therefore hurt NZD/USD in the near term”.
NZD/USD Levels
The 20 DMA is 0.8189, the 50 DMA is 0.8032 and the 200 DMA is 0.8181. RSI (14) reads 58.61. Supports are ascending from 0.8105, 0.8130, 0.8165, 0.8190, 0.8208, 0.8285, 0.8317, 0.8341, 0.8352
NZD/USD squeezes may have altered the broader context for AUD and NZD, but they are still seen as corrective. This may result in more protracted consolidation patterns (especially so for NZD), but signs of faltering should allow for shorts to be rebuilt into interim rebounds, explained Westpac research teams. They also said, “If agreement cannot be reached on Capital Hill, the US could default on its debt. Both the above US fiscal issues are negative for global risk appetite, and should therefore hurt NZD/USD in the near term”.
NZD/USD Levels
The 20 DMA is 0.8189, the 50 DMA is 0.8032 and the 200 DMA is 0.8181. RSI (14) reads 58.61. Supports are ascending from 0.8105, 0.8130, 0.8165, 0.8190, 0.8208, 0.8285, 0.8317, 0.8341, 0.8352