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3 Apr 2014
NZD/USD lost its wings?
FXStreet (Guatemala) - NZD/USD is trading at 0.8537, down -0.38% on the day, having posted a daily high at 0.8582 and low at 0.8514. It has tried to take off towards the upside but is struggling beyond 0.8540.
NZD data coming up
Strategists at TD Securities explained that the credit card sales, business confidence, home prices/sales and non-residential bond holdings are on the docket but none is critical, unless the housing sector collapses and the call for the RBNZ to remove the ‘temporary’ high LVR restrictions grows louder still.
Meanwhile, other analyst teams are warning that commodity prices are now the leading indicator of NZD strength, and if there is a turnaround in the softs such as say, milk, this could be something that would impact on he strength of the bird.
NZD/USD RSI neutral
At the time of writing, RSI is neutral at 59.56, up from 39.80 at the last hour close, while ADX is ranging at 12.15, down from 17.69 previous. Meanwhile, daily RSI is in neutral territory at 55.79. On the hourly NZD/USD chart, the 200 SMA is declining and currently at 0.8580, down from the previous hour close at 0.8612.
How volatile has NZD/USD been?
On the hourly NZD/USD chart, ATR (14) is presently at 6 pips, while 2-Standard Deviation Volatility Bandwidth is expanding and currently 63 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 258 pips.
NZD/UD Levels
Spot is presently trading at 0.8538, and next resistance can be seen at 0.8546 (Hourly 20 EMA), 0.8547 (Weekly Classic S1), 0.8547(Yesterday's Low), 0.8553 (Daily 20 SMA) and 0.8571 (Weekly Low). Support below can be found at 0.8532 (Daily Classic S1), 0.8514 (Daily Low), 0.8494 (Daily Classic S2), 0.8440 (Daily Classic S3) and 0.8439
(Weekly Classic S2).
NZD data coming up
Strategists at TD Securities explained that the credit card sales, business confidence, home prices/sales and non-residential bond holdings are on the docket but none is critical, unless the housing sector collapses and the call for the RBNZ to remove the ‘temporary’ high LVR restrictions grows louder still.
Meanwhile, other analyst teams are warning that commodity prices are now the leading indicator of NZD strength, and if there is a turnaround in the softs such as say, milk, this could be something that would impact on he strength of the bird.
NZD/USD RSI neutral
At the time of writing, RSI is neutral at 59.56, up from 39.80 at the last hour close, while ADX is ranging at 12.15, down from 17.69 previous. Meanwhile, daily RSI is in neutral territory at 55.79. On the hourly NZD/USD chart, the 200 SMA is declining and currently at 0.8580, down from the previous hour close at 0.8612.
How volatile has NZD/USD been?
On the hourly NZD/USD chart, ATR (14) is presently at 6 pips, while 2-Standard Deviation Volatility Bandwidth is expanding and currently 63 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 258 pips.
NZD/UD Levels
Spot is presently trading at 0.8538, and next resistance can be seen at 0.8546 (Hourly 20 EMA), 0.8547 (Weekly Classic S1), 0.8547(Yesterday's Low), 0.8553 (Daily 20 SMA) and 0.8571 (Weekly Low). Support below can be found at 0.8532 (Daily Classic S1), 0.8514 (Daily Low), 0.8494 (Daily Classic S2), 0.8440 (Daily Classic S3) and 0.8439
(Weekly Classic S2).