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12 Sep 2013
NZD/USD on sideways range; strong above 0.8140 zone
FXstreet.com (Chicago) - NZD/USD accumulates 0.80% daily gains so far, to top winners among major currencies. This week has been stellar for the par as it has advances 180 pips.
NZ interest rates, US job data
Earlier in New Zealand, the RBNZ maintained the interest rates at 2.5%, matching expectations. The monetary policy statement indicated the rates are expected to remain at the same level until the end of the year. In the US, Syria’s intention to join chemical weapons convention makes headlines while initial jobless claims beat expectations at 292K vs. estimates at 330K.
NZD/USD Technical Levels
Price action reveals a primary and secondary trend pointing up. In the short-term, the pair continues climbing above the upward trendline that originated last August 30th and a reversal consolidation. The pair reached 0.8159 peaks, session highs, earlier today (also August 19th peaks) and extends the bullish channel despite a shortly-lived visit to 0.8076 lows. Offered at 0.8144, the pair oscillates between supports at 0.8136 (June 16th highs), 0.8116 (May 22nd highs) ahead of 0.8092 (July 30th highs) and resistances at 0.8161 (May 30th highs), 0.8214 (May 22nd highs) followed by 0.8267 (May 7th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe and navigates above the EMA20.
NZ interest rates, US job data
Earlier in New Zealand, the RBNZ maintained the interest rates at 2.5%, matching expectations. The monetary policy statement indicated the rates are expected to remain at the same level until the end of the year. In the US, Syria’s intention to join chemical weapons convention makes headlines while initial jobless claims beat expectations at 292K vs. estimates at 330K.
NZD/USD Technical Levels
Price action reveals a primary and secondary trend pointing up. In the short-term, the pair continues climbing above the upward trendline that originated last August 30th and a reversal consolidation. The pair reached 0.8159 peaks, session highs, earlier today (also August 19th peaks) and extends the bullish channel despite a shortly-lived visit to 0.8076 lows. Offered at 0.8144, the pair oscillates between supports at 0.8136 (June 16th highs), 0.8116 (May 22nd highs) ahead of 0.8092 (July 30th highs) and resistances at 0.8161 (May 30th highs), 0.8214 (May 22nd highs) followed by 0.8267 (May 7th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe and navigates above the EMA20.