20 Aug 2013
NZD/USD consolidated
FXstreet.com (Barcelona) - NZD/USD is consolidating afer a bought weakness and a continuaton of yesterdays bearish move.
“We remain comfortable with March 2014 as the first rate hike, but today’s speech has diluted the risk of an earlier move. Separately, the RBNZ households’ 2yr inflation expectation measure rose to 2.36% in Q3 from 2.06%, the first q/q increase since Q2 2011. Not alarming levels yet (still consistent with RBNZ target 1-3%) but it certainly signals higher inflation to come,” said research teams at TD Securities.
NZD/USD finds bids in London and NA open
NZD/USD is trading with a negative bias with the 20 dma at 0.7990, and the 50 dma is 0.7909 and the 200 dma is 0.8212. RSI (9) reads 59.94. Supports are ascending from 0.7884, 0.7919, 0.7935, and 0.7957. Spot is currently 0.7995 while resistances are 0.8060, 0.8074, 0.8118 and 0.8135.
“We remain comfortable with March 2014 as the first rate hike, but today’s speech has diluted the risk of an earlier move. Separately, the RBNZ households’ 2yr inflation expectation measure rose to 2.36% in Q3 from 2.06%, the first q/q increase since Q2 2011. Not alarming levels yet (still consistent with RBNZ target 1-3%) but it certainly signals higher inflation to come,” said research teams at TD Securities.
NZD/USD finds bids in London and NA open
NZD/USD is trading with a negative bias with the 20 dma at 0.7990, and the 50 dma is 0.7909 and the 200 dma is 0.8212. RSI (9) reads 59.94. Supports are ascending from 0.7884, 0.7919, 0.7935, and 0.7957. Spot is currently 0.7995 while resistances are 0.8060, 0.8074, 0.8118 and 0.8135.