29 Apr 2014
NZD/USD grinding back territory
FXStreet (Guatemala) - NZD/USD is trading at 0.8553, up 0.17% on the day, having posted a daily high at 0.8558 and low at 0.8516.
NZD/USD has been slowly gathering some ground back after the weeks opening slide, with a benign print in the trade data markets will turn their attentions towards US jobs data and Nonfarm payrolls numbers later in the week, but first we have the business confidence numbers from New Zealand today. Meanwhile, Adarsh Sinha, FX Strategist at Bank of America Merrill Lynch explained an interesting point with the latest migration statistics published by New Zealand (NZ) for March 2014 that showed that permanent and long-term migrants into the country continued to surge by 3.8k during the month, the second highest monthly figure on record. The strong pace of inward migration to New Zealand is both symptomatic of strong domestic labor market prospects, as well as likely to add to the upward pressure on housing and consumer demand.
NZD/USD key Levels
Current price is 0.8554, with resistance ahead at 0.8558 (Daily High), 0.8568 (Hourly 100 SMA), 0.8577 (Daily Classic R1), 0.8577 (Hourly 200 SMA) and 0.8588 (Weekly Classic PP). Next support to the downside can be found at 0.8551 (Daily Classic PP), 0.8541 (Hourly 20 EMA), 0.8539 (Monthly Low), 0.8539 (Weekly Low) and 0.8539 (Weekly Classic S1).
NZD/USD has been slowly gathering some ground back after the weeks opening slide, with a benign print in the trade data markets will turn their attentions towards US jobs data and Nonfarm payrolls numbers later in the week, but first we have the business confidence numbers from New Zealand today. Meanwhile, Adarsh Sinha, FX Strategist at Bank of America Merrill Lynch explained an interesting point with the latest migration statistics published by New Zealand (NZ) for March 2014 that showed that permanent and long-term migrants into the country continued to surge by 3.8k during the month, the second highest monthly figure on record. The strong pace of inward migration to New Zealand is both symptomatic of strong domestic labor market prospects, as well as likely to add to the upward pressure on housing and consumer demand.
NZD/USD key Levels
Current price is 0.8554, with resistance ahead at 0.8558 (Daily High), 0.8568 (Hourly 100 SMA), 0.8577 (Daily Classic R1), 0.8577 (Hourly 200 SMA) and 0.8588 (Weekly Classic PP). Next support to the downside can be found at 0.8551 (Daily Classic PP), 0.8541 (Hourly 20 EMA), 0.8539 (Monthly Low), 0.8539 (Weekly Low) and 0.8539 (Weekly Classic S1).