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11 Feb 2014
NZD/USD resilient through resistance
FXStreet (Guatemala) - FXStreet (Guatemala) - NZD/USD has been out performing on a solid NAB business confidence report from Australia overnight and has taken on the 0.83 handle with some instability around 0.8330.
However, the risk event today for the pair has been Yellen so far and the pair managed to hold the handle and surge through for the highs at 0.8345. The new Fed Chair Janet Yellen said in her first semi-annual testimony on monetary policy and the economic outlook to the US Congress that the situation on the labour market had improved but that the economic recovery still had a long way to go, sending the market mixed signals. Coming up later in Asia, we will have the New Zealand Card Retail Sales.
NZD/USD Levels
The 20 DMA is 0.8255, the 50 DMA is 0.8246 and the 200 DMA is 0.8130. RSI (14) reads 65.32. Supports are ascending from 0.8210, 0.8229, 0.8245 and 0.8276. Spot is 0.8334 while resistances are 0.8362, 0.8433 and 0.8446.
However, the risk event today for the pair has been Yellen so far and the pair managed to hold the handle and surge through for the highs at 0.8345. The new Fed Chair Janet Yellen said in her first semi-annual testimony on monetary policy and the economic outlook to the US Congress that the situation on the labour market had improved but that the economic recovery still had a long way to go, sending the market mixed signals. Coming up later in Asia, we will have the New Zealand Card Retail Sales.
NZD/USD Levels
The 20 DMA is 0.8255, the 50 DMA is 0.8246 and the 200 DMA is 0.8130. RSI (14) reads 65.32. Supports are ascending from 0.8210, 0.8229, 0.8245 and 0.8276. Spot is 0.8334 while resistances are 0.8362, 0.8433 and 0.8446.