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9 Jan 2014
NZD/USD is a grind lower
FXstreet.com (Guatemala) - The NZD/USD is continuing to grind lower in a favourable environment for the US dollar.
From the calendar, November building permits rebounded sharply last night in New Zealand to 11.1% M/M from +0.3% in October (an upwardly revised figure from the prior –0.6%). Meanwhile, US Jobless Claims came out pretty much as expected at 330k vs 335k consensus and Continuing Jobless Claims disappointed at 2.865m vs 2.840m consensus. Focus is now with Non Farm Payrolls tomorrow, but the FOMC is not likely to base a decision on one single report alone and either way, the markets reaction could be less accommodating to the result than previous occasions.
NZD/USD Levels
The 20 DMA is 0.8223, the 50 DMA is 0.8242 and the 200 DMA is 0.8156. RSI (14) reads 33.12. Supports are ascending from 0.8180, 0.8209, 0.8230. Spot is 0.8242 while resistances are 0.8320, 0.8336, 0.8368 and 0.8415.
From the calendar, November building permits rebounded sharply last night in New Zealand to 11.1% M/M from +0.3% in October (an upwardly revised figure from the prior –0.6%). Meanwhile, US Jobless Claims came out pretty much as expected at 330k vs 335k consensus and Continuing Jobless Claims disappointed at 2.865m vs 2.840m consensus. Focus is now with Non Farm Payrolls tomorrow, but the FOMC is not likely to base a decision on one single report alone and either way, the markets reaction could be less accommodating to the result than previous occasions.
NZD/USD Levels
The 20 DMA is 0.8223, the 50 DMA is 0.8242 and the 200 DMA is 0.8156. RSI (14) reads 33.12. Supports are ascending from 0.8180, 0.8209, 0.8230. Spot is 0.8242 while resistances are 0.8320, 0.8336, 0.8368 and 0.8415.