4 Apr 2014
NZD/USD going against the grain
FXStreet (Guatemala) - Currently, NZD/USD is trading at 0.8587, up 0.52% on the day, having posted a daily high at 0.8595 and low at 0.8530.
The NZD/USD has spiked through 0.8580 resistance on a knee jerk reaction which might be explained as sell the rumor and buy the fact.
Nonfarm Payrolls will do at at 192K
The markets were anticipating a number like this, and close to 200k. This number is a encouraging in the respect of the Fed can carry on with its tapering programme and bring it to a close, setting sights on an improving economy and will run the race with New Zealand in terms of joining the Central Banks in the G10’s that are tightening their monetary policy regimes.
NZD/USD Levels
With spot trading at 0.8588, we can see next resistance ahead at 0.8595 (Daily High), 0.8600 (Hourly 100 SMA), 0.8613 (Hourly 200 SMA), 0.8615 (Daily Classic R2) and 0.8622 (Weekly Classic PP). Support below can be found at 0.8582 (Yesterday's High), 0.8579 (Daily Classic R1), 0.8552 (Daily 20 SMA), 0.8547 (Daily Classic PP) and 0.8547 (Weekly Classic S1). Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart
The NZD/USD has spiked through 0.8580 resistance on a knee jerk reaction which might be explained as sell the rumor and buy the fact.
Nonfarm Payrolls will do at at 192K
The markets were anticipating a number like this, and close to 200k. This number is a encouraging in the respect of the Fed can carry on with its tapering programme and bring it to a close, setting sights on an improving economy and will run the race with New Zealand in terms of joining the Central Banks in the G10’s that are tightening their monetary policy regimes.
NZD/USD Levels
With spot trading at 0.8588, we can see next resistance ahead at 0.8595 (Daily High), 0.8600 (Hourly 100 SMA), 0.8613 (Hourly 200 SMA), 0.8615 (Daily Classic R2) and 0.8622 (Weekly Classic PP). Support below can be found at 0.8582 (Yesterday's High), 0.8579 (Daily Classic R1), 0.8552 (Daily 20 SMA), 0.8547 (Daily Classic PP) and 0.8547 (Weekly Classic S1). Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart