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1 Aug 2014
NZD/USD battling for the 0.85 handle
FXStreet (Guatemala) - NZD/USD is trading at 0.8497, down -0.01% on the day, having posted a daily high at 0.8501 and low at 0.8495.
NZD/USD has been battling back for the 0.85 handle post the initial rally in the greenback when a stronger than expected US Q2 GDP reckoning had to contend with a below-consensus ADP private employment reading and a dovish key reference to labor market underutilization in the FOMC statement yesterday. Strategists at TD Securities explained that the balance of these forces led the USD to give back some of the gains it had secured prior to the release of the Fed's communique. “However, the USD has reverted some of those intraday loses overnight, regaining ground against most majors, albeit in small magnitudes overall. The USD strength is becoming more entrenched, and the market seems inclined to go into tomorrow's non-farm payrolls owning more US dollars on balance”.
NZD/USD Levels
Current price is 0.8498, with resistance ahead at 0.8500 (Daily Open), 0.8516 (Hourly 100 SMA)and 0.8521 (Yesterday's High). Next support to the downside can be found at 0.8493 (Hourly 20 EMA) and 0.8460.
NZD/USD has been battling back for the 0.85 handle post the initial rally in the greenback when a stronger than expected US Q2 GDP reckoning had to contend with a below-consensus ADP private employment reading and a dovish key reference to labor market underutilization in the FOMC statement yesterday. Strategists at TD Securities explained that the balance of these forces led the USD to give back some of the gains it had secured prior to the release of the Fed's communique. “However, the USD has reverted some of those intraday loses overnight, regaining ground against most majors, albeit in small magnitudes overall. The USD strength is becoming more entrenched, and the market seems inclined to go into tomorrow's non-farm payrolls owning more US dollars on balance”.
NZD/USD Levels
Current price is 0.8498, with resistance ahead at 0.8500 (Daily Open), 0.8516 (Hourly 100 SMA)and 0.8521 (Yesterday's High). Next support to the downside can be found at 0.8493 (Hourly 20 EMA) and 0.8460.