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1 Apr 2014
NZD/USD still limited beyond 0.8680
FXStreet (Guatemala) - NZD/USD has not been convincing beyond 0.8680 since Friday. Currently, NZD/USD is trading at 0.8669, down -0.03% on the day, having posted a daily high at 0.8680 and low at 0.8660.
NZD/USD data
Strategists at TD Securities noted that New Zealand Building consents fell -1.7% in Feb, although are 15% higher than a year earlier and said, “Consents levels are just off 5yr highs and housing construction is expected to add up to +1% to GDP growth this year”. Meanwhile, warranting more attention of traders, they explained, “If Nonfarm Payrolls are as strong as we think they might be (consensus looking for 200K, TD looking for 213K) and revert back toward their pre-polar vortex trend, that should help to reestablish the trend higher in the USD and in US rates”.
NZD/USD Levels bullish
With spot trading at 0.8670, we can see next resistance ahead at 0.8672 (Daily Open), 0.8673 (Monthly High), 0.8673 (Weekly High), 0.8673 (Annual High) and 0.8673 (YTD High). Support below can be found at 0.8667 (Daily Classic PP), 0.8667 (Hourly 20 EMA), 0.8660 (Daily Low), 0.8640 (Hourly 100 SMA) and 0.8640(Yesterday's Low). Looking to candlestick patterns, we can see a bullish Hammer formation on the 4-hour chart.
NZD/USD data
Strategists at TD Securities noted that New Zealand Building consents fell -1.7% in Feb, although are 15% higher than a year earlier and said, “Consents levels are just off 5yr highs and housing construction is expected to add up to +1% to GDP growth this year”. Meanwhile, warranting more attention of traders, they explained, “If Nonfarm Payrolls are as strong as we think they might be (consensus looking for 200K, TD looking for 213K) and revert back toward their pre-polar vortex trend, that should help to reestablish the trend higher in the USD and in US rates”.
NZD/USD Levels bullish
With spot trading at 0.8670, we can see next resistance ahead at 0.8672 (Daily Open), 0.8673 (Monthly High), 0.8673 (Weekly High), 0.8673 (Annual High) and 0.8673 (YTD High). Support below can be found at 0.8667 (Daily Classic PP), 0.8667 (Hourly 20 EMA), 0.8660 (Daily Low), 0.8640 (Hourly 100 SMA) and 0.8640(Yesterday's Low). Looking to candlestick patterns, we can see a bullish Hammer formation on the 4-hour chart.