17 Oct 2013
NZD/USD muted despite the bill passes the House
FXstreet.com (Athens) – The NZD/USD initially spiked on the fact that finally the US political melodrama reached an end – even in a short term aspect – but soon pared all of its gains back as the whole trading pattern could perfectly attributed to “Buy the Rumor – Sell the fact” trend shift.
NZD/USD being on a firm undertone momentum; “Buy the rumor – sell the fact” prevails
The NZD/USD initially gained immensely boosting as the news wires quoted all over the globe that even at the 11th hour the Washington reached an agreement to raise the debt-ceiling and to reopen the government even to a very short – extended period. Briefly, the debt ceiling decided to be raised till the 7th of February while the US government will reopen through to 15th of January. Nevertheless, it is more than obvious that the “kiwi” tracked to a major extent its Antipodean cousin trend behavior; thus while traders had already priced in this last minute resolution, the widely known quote “Buy the rumor – Sell the fact” prevailed across the board, dragging very quickly the cross downwards to its initial levels. Elsewhere, the better New Zealand Consumer Confidence data might have provided at least initially a “boost” to the kiwi, as were released at very solid levels.
Technical Aspects on the NZD/USD
At the time of writing the pair is trading at 0.8425, up 0.05%. The FXstreet.com Trend Index shows the pair to be slightly bearish in the 15-minutes timeframe chart. Daily pivot point support can be found at 0.8400, 0.8376, 0.8355, and resistance at 0.8447, 0.8475 and 0.8517, respectively.Last but not least apart from the above, traders should always bear in mind that the kiwi tracks the trend behavior of its Antipodean cousin, the “Aussie” therefore they should pay attention simultaneously at both of them.
NZD/USD being on a firm undertone momentum; “Buy the rumor – sell the fact” prevails
The NZD/USD initially gained immensely boosting as the news wires quoted all over the globe that even at the 11th hour the Washington reached an agreement to raise the debt-ceiling and to reopen the government even to a very short – extended period. Briefly, the debt ceiling decided to be raised till the 7th of February while the US government will reopen through to 15th of January. Nevertheless, it is more than obvious that the “kiwi” tracked to a major extent its Antipodean cousin trend behavior; thus while traders had already priced in this last minute resolution, the widely known quote “Buy the rumor – Sell the fact” prevailed across the board, dragging very quickly the cross downwards to its initial levels. Elsewhere, the better New Zealand Consumer Confidence data might have provided at least initially a “boost” to the kiwi, as were released at very solid levels.
Technical Aspects on the NZD/USD
At the time of writing the pair is trading at 0.8425, up 0.05%. The FXstreet.com Trend Index shows the pair to be slightly bearish in the 15-minutes timeframe chart. Daily pivot point support can be found at 0.8400, 0.8376, 0.8355, and resistance at 0.8447, 0.8475 and 0.8517, respectively.Last but not least apart from the above, traders should always bear in mind that the kiwi tracks the trend behavior of its Antipodean cousin, the “Aussie” therefore they should pay attention simultaneously at both of them.