25 Jun 2014
NZD/USD consolidating the rally
FXStreet (Guatemala) - Currently, NZD/USD is trading at 0.8735, up 0.72% on the day, having posted a daily high at 0.8742 and low at 0.8661.
NZD/USD breached the 0.9720 resistance but has run into congestion here. RSI is in neutral territory at 65.51, down from it’s last hourly close at 68.85, while ADX is trending above 30 at 35.41, down from 45.24 at thelast hourly close. Meanwhile, Tim Davis, Vice President, Global Strategist at TD Securities noted that the trade balance for May on Friday should see narrowing trade surpluses as we head into winter (hard to milk frozen cows). “High LVR loans should continue to be a fraction of new loans and calls for removal of restrictions will likely grow louder (the RBNZ said year end at the earliest) - out on Thursday”.
NZD/USD Levels
Current price is 0.8735, with resistance ahead at 0.8741 (Annual High), 0.8741 (YTD High), 0.8742 (Daily High), 0.8743 (Weekly Classic R1) and 0.8745 (Daily Classic R2). Next support to the downside can be found at 0.8733 (Monthly High), (Weekly High), 0.8725 (Yesterday's High), 0.8709 (Daily Classic R1) and 0.8708 (Hourly 100 SMA).
NZD/USD breached the 0.9720 resistance but has run into congestion here. RSI is in neutral territory at 65.51, down from it’s last hourly close at 68.85, while ADX is trending above 30 at 35.41, down from 45.24 at thelast hourly close. Meanwhile, Tim Davis, Vice President, Global Strategist at TD Securities noted that the trade balance for May on Friday should see narrowing trade surpluses as we head into winter (hard to milk frozen cows). “High LVR loans should continue to be a fraction of new loans and calls for removal of restrictions will likely grow louder (the RBNZ said year end at the earliest) - out on Thursday”.
NZD/USD Levels
Current price is 0.8735, with resistance ahead at 0.8741 (Annual High), 0.8741 (YTD High), 0.8742 (Daily High), 0.8743 (Weekly Classic R1) and 0.8745 (Daily Classic R2). Next support to the downside can be found at 0.8733 (Monthly High), (Weekly High), 0.8725 (Yesterday's High), 0.8709 (Daily Classic R1) and 0.8708 (Hourly 100 SMA).