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5 Mar 2014
Kiwi bulls stubbornly attack the resistance of 0.8400
FXStreet (Moscow) - NZD/USD is fiercely attacking the key resistance of 0.8400, but the attempts are not successful so far as the pair now trades at 0.8386 after touching the current Asian high at 0.8410.
Kiwi bulls may have an upper hand after all
NZD/USD touched the resistance level of 0.8400, closed Monday gap, and finished Tuesday in the green zone as risk-sensitive currencies benefitted from the temporary respite in the Russia-Ukraine conflict. On the longer term scale, the resistance of 0.8390-0.8400 has been tested several times already. It means that the bulls need a clear break above that area to gain the control over the situation. The US Dollar may gain ground today if the ADP numbers and Non-Manufacturing ISM come out better than expected, but the upside momentum will hardly be strong enough for NZD/USD to crack the above said resistance. The downside is likely to be limited by 0.8340, though should it be broken, the bears will be happy to push it to 0.8300.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8381, with support below at 0.8362, 0.8332 and 0.8313, with resistance above at 0.8411, 0.8430 and 0.8460. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8340 and the daily 20EMA at 0.8321. Hourly RSI is neutral at 52.
Kiwi bulls may have an upper hand after all
NZD/USD touched the resistance level of 0.8400, closed Monday gap, and finished Tuesday in the green zone as risk-sensitive currencies benefitted from the temporary respite in the Russia-Ukraine conflict. On the longer term scale, the resistance of 0.8390-0.8400 has been tested several times already. It means that the bulls need a clear break above that area to gain the control over the situation. The US Dollar may gain ground today if the ADP numbers and Non-Manufacturing ISM come out better than expected, but the upside momentum will hardly be strong enough for NZD/USD to crack the above said resistance. The downside is likely to be limited by 0.8340, though should it be broken, the bears will be happy to push it to 0.8300.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8381, with support below at 0.8362, 0.8332 and 0.8313, with resistance above at 0.8411, 0.8430 and 0.8460. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8340 and the daily 20EMA at 0.8321. Hourly RSI is neutral at 52.