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18 Feb 2014
NZD/USD supported ahead of 0.83 handle
FXStreet (Guatemala) - NZD has been underperforming after the Finance Minister in New Zealand said overnight that the currency is overvalued.
NZD/USD dropped from the top-side of the handle with supply taking it through support levels over the course of yesterday and now the pair continues to bob along on the 0.83 handle and despite some market commentators comparing it to Ireland in 2007. These comments were rejected by Finance Minister English. Meanwhile, today, the US dollar is under pressure with the release of the lowest read NAHB housing read in the US since May. NAHB housing read 46 vs the 56 consensus and previous 56 indicating the housing market trend in the US has taken a turn for the worst.
NZD/USD Levels
The 20 DMA is 0.8258, the 50 DMA is 0.8255 and the 200 DMA is 0.8130. RSI (14) reads 40. Supports are ascending from 0.8229, 0.8257 and 0.8292. Spot is 0.8306 while resistances are 0.8393, 0.8433, 0.8446 and 0.8518.
NZD/USD dropped from the top-side of the handle with supply taking it through support levels over the course of yesterday and now the pair continues to bob along on the 0.83 handle and despite some market commentators comparing it to Ireland in 2007. These comments were rejected by Finance Minister English. Meanwhile, today, the US dollar is under pressure with the release of the lowest read NAHB housing read in the US since May. NAHB housing read 46 vs the 56 consensus and previous 56 indicating the housing market trend in the US has taken a turn for the worst.
NZD/USD Levels
The 20 DMA is 0.8258, the 50 DMA is 0.8255 and the 200 DMA is 0.8130. RSI (14) reads 40. Supports are ascending from 0.8229, 0.8257 and 0.8292. Spot is 0.8306 while resistances are 0.8393, 0.8433, 0.8446 and 0.8518.