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12 Sep 2013
NZD/USD spikes to 0.8125 on RBNZ
FXstreet.com (London) - NZD/USD spiked over 40 pips on the release of the awaited RBNZ, leaving rates on hold.
The pair has been extending its advance from depths of 0.7880 territory following last weeks disappointment in NFP’s from the US. Meanwhile, the pair will now be subject to the raft of data form the US towards the end of the week and of course tensions over Syria are still effecting the dollar. The FOMC is on the cards also with tapering in loom; “Bernanke must manage tapering in way that soothes and avoids a riot in bond markets. Forward guidance and communication are key as 2016 SEP forecasts loom. Unemployment threshold set to be lowered”, said Eric Green, Global Head Rates, FX & Commodity Research at TD Securities.
NZD/USD Levels
The 20 DMA is .7910, the 50 DMA is 7917 and the 200 DAM is .8187. RSI (14) reads 66.99. Supports are ascending from .7928 .7960, .8015, .8032 .8040, and 80.80. Spot is currently 0.8120 while resistances are .8129, .8165 and .8173.
The pair has been extending its advance from depths of 0.7880 territory following last weeks disappointment in NFP’s from the US. Meanwhile, the pair will now be subject to the raft of data form the US towards the end of the week and of course tensions over Syria are still effecting the dollar. The FOMC is on the cards also with tapering in loom; “Bernanke must manage tapering in way that soothes and avoids a riot in bond markets. Forward guidance and communication are key as 2016 SEP forecasts loom. Unemployment threshold set to be lowered”, said Eric Green, Global Head Rates, FX & Commodity Research at TD Securities.
NZD/USD Levels
The 20 DMA is .7910, the 50 DMA is 7917 and the 200 DAM is .8187. RSI (14) reads 66.99. Supports are ascending from .7928 .7960, .8015, .8032 .8040, and 80.80. Spot is currently 0.8120 while resistances are .8129, .8165 and .8173.