6 Jan 2014
NZD/USD holding above 0.8250, daily range persists
FXstreet.com (Bali) - NZD/USD is trading quietly around the 0.8250 vicinity, with traders in Asia sidelined ahead of a busy week ahead, in which the FOMC minutes or NFP await.
NZD/USD technicals
Technically, NZD/USD is trapped in a 2 cents range with solid bids/offers emerging at the edges 0.81/0.83. The pair needs a clean breakout away from such congested area in order to define the next trend. On a monthly chart, a triangle coming from July 2011 remains in place.
NZD and USD supported by CB outlooks
On a fundamental note, a hawkish RBNZ - positive New Zealand Dollar - has been clashing with a resilient US Dollar, benefited by the wind down of the Fed's easing program. The relatively strong performance from both currencies continues to be the main offsetting factor impending the creation of consistent moves in either direction.
NZD/USD technicals
Technically, NZD/USD is trapped in a 2 cents range with solid bids/offers emerging at the edges 0.81/0.83. The pair needs a clean breakout away from such congested area in order to define the next trend. On a monthly chart, a triangle coming from July 2011 remains in place.
NZD and USD supported by CB outlooks
On a fundamental note, a hawkish RBNZ - positive New Zealand Dollar - has been clashing with a resilient US Dollar, benefited by the wind down of the Fed's easing program. The relatively strong performance from both currencies continues to be the main offsetting factor impending the creation of consistent moves in either direction.