Back
8 Jan 2014
NZD/USD losing flight to test support
FXstreet.com (Guatemala) - NZD/USD has suffered a decline from the 0.83 handle and continues to fall to the ascending support line.
NZD/USD dropped from 0.8310/20 and is threatening 0.8270 which sits on the ascending support line formed from the lows of 0.8250 on 5th Dec. The ADP employment report showed the US private sector added 238,000 new jobs in December, beating forecast of 200,000. Meanwhile, November ADP jobs number was revised up 14,000 to 229,000. The momentum continues with RSI (14) still offering room to the downside. Meanwhile, all eyes are going to be on the FOMC Minutes coming up. We are looking forward to knowing how unanimous the taper move was. It will be interested to know how the spread of opinions and reservations around this move were which should give us an idea on what it would take for the FOMC to actually consider upping or slowing the pace of taper.
NZD/USD Levels
The 20 DMA is 0.8223, the 50 DMA is 0.8242, 0.8157. RSI (14) 40.42. Supports are 0.8200, 0.8220, 0.8244, 0.8252. Spot is 0.8270 while resistances are 0.8290, 0.8320, 0.8336, 0.8368 and 0.8415.
NZD/USD dropped from 0.8310/20 and is threatening 0.8270 which sits on the ascending support line formed from the lows of 0.8250 on 5th Dec. The ADP employment report showed the US private sector added 238,000 new jobs in December, beating forecast of 200,000. Meanwhile, November ADP jobs number was revised up 14,000 to 229,000. The momentum continues with RSI (14) still offering room to the downside. Meanwhile, all eyes are going to be on the FOMC Minutes coming up. We are looking forward to knowing how unanimous the taper move was. It will be interested to know how the spread of opinions and reservations around this move were which should give us an idea on what it would take for the FOMC to actually consider upping or slowing the pace of taper.
NZD/USD Levels
The 20 DMA is 0.8223, the 50 DMA is 0.8242, 0.8157. RSI (14) 40.42. Supports are 0.8200, 0.8220, 0.8244, 0.8252. Spot is 0.8270 while resistances are 0.8290, 0.8320, 0.8336, 0.8368 and 0.8415.