24 Jan 2014
NZD/USD claiming back the 0.83 handle
FXstreet.com (Guatemala) - NZD/USD is dusting its wings off from below the 0.8280 mark and into 0.8310 after a choppy couple of sessions within a tight range between 0.8270 and the 0.8340’s.
From the calendar, we had some reasonably positive stuff in the Business NZ PMI (Dec) that came in 56.4 albeit vs a slightly better previous reading of 57.0 propping the pair up for the time being. But overall, its been a lower dollar story across the G10’s while the data wasn’t to compelling for the economy earlier. US weekly jobless claims rose 1k to 326,000 which came in slightly better than forecast . Markit US PMI 53.7 preliminary in January was weak. Economists had forecast a rise to 55.0 from 54.4. Existing homes sales however printed 1.0% beating expectations of 0.4%.
NZD/USD Levels
The 20 DMA is 0.8272, the 50 DMA is 0.8248 and the 200 DMA is 0.8147. RSI (14) 52.90. Supports are ascending from 0.8140, 0.8180, 0.8207, and 0.8250. Spot is 0.8306 while resistances are 0.8346, 0.8362, 0.8433 and 0.8446.
From the calendar, we had some reasonably positive stuff in the Business NZ PMI (Dec) that came in 56.4 albeit vs a slightly better previous reading of 57.0 propping the pair up for the time being. But overall, its been a lower dollar story across the G10’s while the data wasn’t to compelling for the economy earlier. US weekly jobless claims rose 1k to 326,000 which came in slightly better than forecast . Markit US PMI 53.7 preliminary in January was weak. Economists had forecast a rise to 55.0 from 54.4. Existing homes sales however printed 1.0% beating expectations of 0.4%.
NZD/USD Levels
The 20 DMA is 0.8272, the 50 DMA is 0.8248 and the 200 DMA is 0.8147. RSI (14) 52.90. Supports are ascending from 0.8140, 0.8180, 0.8207, and 0.8250. Spot is 0.8306 while resistances are 0.8346, 0.8362, 0.8433 and 0.8446.