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9 Jun 2014
NZD/USD losing the 0.85 handle
FXStreet (Guatemala) - NZD/USD is trading at 0.8491, down -0.10% on the day, having posted a daily high at 0.8532 and low at 0.8482.
NZD/USD lost the 0.85 handle and Stephen Toplis, Head of Research at BNZ explained that one of the reasons that the NZD has been falling has been the popular perception by offshore investors that the NZ economy is under more pressure than anticipated (based on the recent falls in dairy prices, Fonterra’s payout announcement, and the fall in the ANZ survey activity index). “We think this is misguided and that foreign observers with this bias may be surprised by the RBNZ’s stance this week. Ironically, of course, this could result in a stronger NZD on the day and, by implication, put talk of a softer interest rate track back on the table”.
NZD/USD Levels
Spot is presently trading at 0.8492, and next resistance can be seen at 0.8500 (Daily Open), 0.8501 (Weekly High), 0.8505 (Hourly 20 EMA),0.8512 (Daily Classic PP) and 0.8529 (Daily 20 SMA). Next support to the downside can be found at 0.8485 (Daily 100 SMA), 0.8482 (Daily Low) and 0.8474 (Hourly 200 SMA).
NZD/USD lost the 0.85 handle and Stephen Toplis, Head of Research at BNZ explained that one of the reasons that the NZD has been falling has been the popular perception by offshore investors that the NZ economy is under more pressure than anticipated (based on the recent falls in dairy prices, Fonterra’s payout announcement, and the fall in the ANZ survey activity index). “We think this is misguided and that foreign observers with this bias may be surprised by the RBNZ’s stance this week. Ironically, of course, this could result in a stronger NZD on the day and, by implication, put talk of a softer interest rate track back on the table”.
NZD/USD Levels
Spot is presently trading at 0.8492, and next resistance can be seen at 0.8500 (Daily Open), 0.8501 (Weekly High), 0.8505 (Hourly 20 EMA),0.8512 (Daily Classic PP) and 0.8529 (Daily 20 SMA). Next support to the downside can be found at 0.8485 (Daily 100 SMA), 0.8482 (Daily Low) and 0.8474 (Hourly 200 SMA).