Back
20 Sep 2013
NZD/USD battling with offers; still a favourite?
FXstreet.com (London) - NZD/USD has been one of the best performing of the G10’s, having rallied from 0.8220 to highs 0.8438 this week when the market dumped dollars on the back of a dovish Fed and FOMC.
Research teams at TD Securities said, for choice, they still like the higher-yielding G-10 currencies and like the NZD best of all for the moment. However, the pair has been battling with offers above 0.8380 at the end of this week. The dollar is consolidating its losses, and as TD Securities put it, “The USD has steadied as markets reassess the Fed outlook. By stressing the data-dependency mode, the USD is likely to be increasingly sensitive to the data outcomes in the next few weeks. The broader USD trend looks soft but, with the Fed still expected to taper in the next few months, scope for extended losses seems limited from here”
NZD/USD Levels
The 20 DMA is .7987, the 50 DMA is .7967 and the 200 DMA is .8182. RSI (14) reads 47.41. Supports are ascending from .8160, .8206, .8245 and .8327. Spot is currently .8364 while resistances are reading .8380, .8436, .8461, .8481 and .8524.
Research teams at TD Securities said, for choice, they still like the higher-yielding G-10 currencies and like the NZD best of all for the moment. However, the pair has been battling with offers above 0.8380 at the end of this week. The dollar is consolidating its losses, and as TD Securities put it, “The USD has steadied as markets reassess the Fed outlook. By stressing the data-dependency mode, the USD is likely to be increasingly sensitive to the data outcomes in the next few weeks. The broader USD trend looks soft but, with the Fed still expected to taper in the next few months, scope for extended losses seems limited from here”
NZD/USD Levels
The 20 DMA is .7987, the 50 DMA is .7967 and the 200 DMA is .8182. RSI (14) reads 47.41. Supports are ascending from .8160, .8206, .8245 and .8327. Spot is currently .8364 while resistances are reading .8380, .8436, .8461, .8481 and .8524.