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6 Sep 2013
NZD/USD spikes on 0.8020 after ‘Septaper’ fades way
FXstreet.com (Athens) - The NZD/USD soared after NFP let down investors released at 169k; traders should forget the notorious “tapering” on September.
Dow Jones touches 15000 and gold soars across the board; NZD/USD spiked on 0.8020
NFP released at 169K, much weaker than expected and paved the way to freeze the ‘Septaper’. While the unemployment rate declined at 7.3%, the NFP data let down traders and the greenback was under heavy selling pressure across the board against all of its major counter-parts. What’s more, on “poor” NFP, Fed's Evans says “FOMC will probably taper QE "later this year"; wants to see 3Q economic "traction" before QE taper.”
Technical Outlook and Strategic bias o NZD/USD
At the time of writing, the pair is trading at 0.8005 area, up 1.53%, after having hit a daily high as of 1.8025 immediately after the NFP release. The FXstreet.com Trend Index shows the pair to be slightly bullish on a 15 minutes timeframe. Daily pivot point support can be found at 0.7986, 0.7910, 0.7891 and resistance at 0.7900, 0.7920 and 0.7939, respectively
Dow Jones touches 15000 and gold soars across the board; NZD/USD spiked on 0.8020
NFP released at 169K, much weaker than expected and paved the way to freeze the ‘Septaper’. While the unemployment rate declined at 7.3%, the NFP data let down traders and the greenback was under heavy selling pressure across the board against all of its major counter-parts. What’s more, on “poor” NFP, Fed's Evans says “FOMC will probably taper QE "later this year"; wants to see 3Q economic "traction" before QE taper.”
Technical Outlook and Strategic bias o NZD/USD
At the time of writing, the pair is trading at 0.8005 area, up 1.53%, after having hit a daily high as of 1.8025 immediately after the NFP release. The FXstreet.com Trend Index shows the pair to be slightly bullish on a 15 minutes timeframe. Daily pivot point support can be found at 0.7986, 0.7910, 0.7891 and resistance at 0.7900, 0.7920 and 0.7939, respectively