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Trading news
27 Apr 2015
NZD/USD bulls with a fight on their hands on 0.76 handle
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7607 with a high of 0.7619 and a low of 0.7583.
NZD/USD is poised to the upside after bears failed to take the cross out of the 0.75 handle and support around the mid point of the handle finally attracted demand for it to land back on to the 0.76 handle for the close of last week's business while the greenback was unable to save face across the board as growing speculation around a Fed June 'hold and see' takes the bid.
This week see;s the FOMC statement as well as Thursday’s RBNZ OCR Review. "We expect a brief 3-4 paragraphs explaining that data and events have unfolded largely as expected, hence the RBNZ is likely to again disappoint the doves via “future interest rate adjustments, either up or down, will depend on the emerging flow of economic data”", explained analysts at TD Securities. Technically, the bird is in neutral territory with the bullish trend broken with the 20th April supply and support of minor recoveries broken on the 22nd April. the upside has room to continue with RSI on the hourly at 57 and supported at EMA 10 just sub the handle.
NZD/USD is poised to the upside after bears failed to take the cross out of the 0.75 handle and support around the mid point of the handle finally attracted demand for it to land back on to the 0.76 handle for the close of last week's business while the greenback was unable to save face across the board as growing speculation around a Fed June 'hold and see' takes the bid.
This week see;s the FOMC statement as well as Thursday’s RBNZ OCR Review. "We expect a brief 3-4 paragraphs explaining that data and events have unfolded largely as expected, hence the RBNZ is likely to again disappoint the doves via “future interest rate adjustments, either up or down, will depend on the emerging flow of economic data”", explained analysts at TD Securities. Technically, the bird is in neutral territory with the bullish trend broken with the 20th April supply and support of minor recoveries broken on the 22nd April. the upside has room to continue with RSI on the hourly at 57 and supported at EMA 10 just sub the handle.