Back
15 Dec 2014
NZD/USD contained within the downtrend
FXStreet (Guatemala) - NZD/USD is trading at 0.7755, down -0.27% on the day, having posted a daily high at 0.7795 and low at 0.7728.
NZD/USD is expected to continue lower on the strength of the greenback and given the sentiment that the RBNZ is unlikely to increase rates for the fifth time until sometime late in 2015.
In the Central Banks most recent statement was more hawkish than expected although they continued to talk the currency down. This in itself is likely to leave an air of caution around the long side of the trade off as well. The risk events for the final trading days of the year are the FOMC and this week’s half fiscal year economic update from the New Zealand Treasury as well as GDP and continued news around global dairy prices that continue to weigh on the New Zealand economy.
NZD/USD noteworthy levels
Spot is presently trading at 0.7756, and next resistance can be seen at 0.7757 (Hourly 20 EMA), 0.7759 (Hourly 100 SMA) and 0.7792 (Daily Classic PP). Support below can be found at 0.7752 (Weekly Classic PP), 0.7742 (Hourly 200 SMA), 0.7741 (Daily Classic S1) and 0.7707 (Daily Classic S2).
NZD/USD is expected to continue lower on the strength of the greenback and given the sentiment that the RBNZ is unlikely to increase rates for the fifth time until sometime late in 2015.
In the Central Banks most recent statement was more hawkish than expected although they continued to talk the currency down. This in itself is likely to leave an air of caution around the long side of the trade off as well. The risk events for the final trading days of the year are the FOMC and this week’s half fiscal year economic update from the New Zealand Treasury as well as GDP and continued news around global dairy prices that continue to weigh on the New Zealand economy.
NZD/USD noteworthy levels
Spot is presently trading at 0.7756, and next resistance can be seen at 0.7757 (Hourly 20 EMA), 0.7759 (Hourly 100 SMA) and 0.7792 (Daily Classic PP). Support below can be found at 0.7752 (Weekly Classic PP), 0.7742 (Hourly 200 SMA), 0.7741 (Daily Classic S1) and 0.7707 (Daily Classic S2).