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19 Mar 2014
NZD/USD RSI signifies overdone
FXStreet (Guatemala) - NZD/USD has been a relentless player on the bid since the RBNZ raised rates last week and reiterated the need for continuing tightening.
Despite the risk off tone across markets, the bird continues to post gains and has been one of the best performers of late. Although, the pair is becoming overstretched according to RSI and offers are holding it up for the time being at 0.8443 resistance. A non moving market event but worth noting all the same as being the only data releases on the cards for today was New Zealand’s Current Account (QoQ) for Q4 that read $-1.430B vs a consensus of $-1.409B.
NZD/USD Levels
The 20 DMA is 0.8406, the 50 DMA is 0.8328 and the 200 DMA is 0.8163. RSI (14) reads 79.10. Supports are ascending from 0.8449, 0.8480, 0.8513, 0.8542 and 0.8560. Spot is 0.8619 while resistances are 0.8643, 0.8676 and 0.8733.
Despite the risk off tone across markets, the bird continues to post gains and has been one of the best performers of late. Although, the pair is becoming overstretched according to RSI and offers are holding it up for the time being at 0.8443 resistance. A non moving market event but worth noting all the same as being the only data releases on the cards for today was New Zealand’s Current Account (QoQ) for Q4 that read $-1.430B vs a consensus of $-1.409B.
NZD/USD Levels
The 20 DMA is 0.8406, the 50 DMA is 0.8328 and the 200 DMA is 0.8163. RSI (14) reads 79.10. Supports are ascending from 0.8449, 0.8480, 0.8513, 0.8542 and 0.8560. Spot is 0.8619 while resistances are 0.8643, 0.8676 and 0.8733.