25 Jul 2013
NZD/USD higher on hawkish RBNZ
FXstreet.com (London) - NZD/USD is higher while RBNZ left rates unchanged at 2.5% and made hawkish comments overnight.
“Overnight, the RBNZ shifted stance and adopted an unmistakable explicit tightening bias, noting that a 'removal of monetary stimulus will likely be needed in the future'. – Gareth Berry, UBS FX Strategy. NZD/USD has gained in the region of 100 pips since the NY session, regrouping itself back above the 0.8000 handle despite dropping from there on the previous session, Wednesday/Thursday in Europe.
NZD/USD Levels
NZD/USD bounced away from the 50-days SMA with the bullish bias very much in tact, marrying the fundamentals. Markets will be targeting 0.8138, the major swing high. Resistances are 0.8014, 0.8053 and 0.8062, 0.8100.
“Overnight, the RBNZ shifted stance and adopted an unmistakable explicit tightening bias, noting that a 'removal of monetary stimulus will likely be needed in the future'. – Gareth Berry, UBS FX Strategy. NZD/USD has gained in the region of 100 pips since the NY session, regrouping itself back above the 0.8000 handle despite dropping from there on the previous session, Wednesday/Thursday in Europe.
NZD/USD Levels
NZD/USD bounced away from the 50-days SMA with the bullish bias very much in tact, marrying the fundamentals. Markets will be targeting 0.8138, the major swing high. Resistances are 0.8014, 0.8053 and 0.8062, 0.8100.