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27 Sep 2013
NZD/USD a best performer on the week; US data dependent
FXstreet.com (London) - The NZD/USD has printed a high of 0.8321 and has dropped right back below the pivot of 0.8276 to record a low of 0.8552.
NZD/USD has risk ahead with the US data on while markets remain on standby for the jobs numbers. In the mean time, Jane Foley sighted the bird as one of the best performers this week across the G10’s on the basis that, “The RBNZ is likely to be the first G10 central bank to hike rates this cycle”. Research teams at ANZ said, “Among the G10 currencies, there are no standouts in terms of the average percent spot return. From a directional frequency point of view, AUD and NZD fared best with appreciations seen in 9 out of the last 13 years. The average gain in both currencies when it appreciates is fairly significant at 3.69% for AUD and 2.78% for NZD. But when it falls, the losses tend to be large (-5.51% for AUD and -4.50% for NZD). Meanwhile, from the calendar for the US, CPE all in all come in positively while we will see Michigan Consumer Sentiment out and coming up next.
NZD/USD Levels
The 20 DMA is 0.8113, the 50 DMA is 0.8013 and the 200 DMA is 0.8180. RSI (14) reads 45.50. Supports are ascending from 0.8190, 0.8217 and 0.8235. Spot is currently 0.8266. Resistances are 0.8289, 0.8302, 0.8320, 0.8341 and 0.8374.
NZD/USD has risk ahead with the US data on while markets remain on standby for the jobs numbers. In the mean time, Jane Foley sighted the bird as one of the best performers this week across the G10’s on the basis that, “The RBNZ is likely to be the first G10 central bank to hike rates this cycle”. Research teams at ANZ said, “Among the G10 currencies, there are no standouts in terms of the average percent spot return. From a directional frequency point of view, AUD and NZD fared best with appreciations seen in 9 out of the last 13 years. The average gain in both currencies when it appreciates is fairly significant at 3.69% for AUD and 2.78% for NZD. But when it falls, the losses tend to be large (-5.51% for AUD and -4.50% for NZD). Meanwhile, from the calendar for the US, CPE all in all come in positively while we will see Michigan Consumer Sentiment out and coming up next.
NZD/USD Levels
The 20 DMA is 0.8113, the 50 DMA is 0.8013 and the 200 DMA is 0.8180. RSI (14) reads 45.50. Supports are ascending from 0.8190, 0.8217 and 0.8235. Spot is currently 0.8266. Resistances are 0.8289, 0.8302, 0.8320, 0.8341 and 0.8374.