30 Jun 2014
NZD/USD remains with strong positive momentum
FXStreet (Guatemala) - NZD/USD is trading at 0.8746, down -0.34% on the day, having posted a daily high at 0.8783 and low at 0.8741.
With the NZD/USD tucked in below this years high of 0.8796, Imre Speizer, analyst at Westpac Banking Corporation ABN explained NZD/USD's positive momentum remains strong and a break above 0.8800 is on the cards during the week ahead. “Given the paucity of NZ news expected this week, that will most likely occur either as a result of further US dollar weakness (a disappointing US payrolls report on Thursday, for example) or simply due to further unwinding of short NZD positions”. Meanwhile, NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index. The 200 SMA is currently at 0.8766, up from 0.8717 at the last period close, and climbing on the hourly NZD/USD chart.
NZD/USD Levels
With spot trading at 0.8747, we can see next resistance ahead at 0.8753 (Yesterday's Low), 0.8755 (Daily Classic S1), 0.8768 (Hourly 20 EMA), (Daily Classic PP) and 0.8777 (Daily Open). Support below can be found at 0.8744 (Weekly Classic PP), 0.8741 (Daily Low), 0.8734 (Hourly 100 SMA), 0.8733 (Daily Classic S2) and 0.8717 (Hourly 200 SMA).
With the NZD/USD tucked in below this years high of 0.8796, Imre Speizer, analyst at Westpac Banking Corporation ABN explained NZD/USD's positive momentum remains strong and a break above 0.8800 is on the cards during the week ahead. “Given the paucity of NZ news expected this week, that will most likely occur either as a result of further US dollar weakness (a disappointing US payrolls report on Thursday, for example) or simply due to further unwinding of short NZD positions”. Meanwhile, NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index. The 200 SMA is currently at 0.8766, up from 0.8717 at the last period close, and climbing on the hourly NZD/USD chart.
NZD/USD Levels
With spot trading at 0.8747, we can see next resistance ahead at 0.8753 (Yesterday's Low), 0.8755 (Daily Classic S1), 0.8768 (Hourly 20 EMA), (Daily Classic PP) and 0.8777 (Daily Open). Support below can be found at 0.8744 (Weekly Classic PP), 0.8741 (Daily Low), 0.8734 (Hourly 100 SMA), 0.8733 (Daily Classic S2) and 0.8717 (Hourly 200 SMA).