Back
4 Oct 2013
NZD/USD revisits 0.8280 lows
FXstreet.com (Chicago) - NZD/USD fell ahead of Tokyo’s opening finding grounds and now targeting the 0.83 zone after potential reversal consolidation.
Messy US, bullish NZ
Earlier today, IMF’s Lagarde insisted on how important it is for the US to solve its political differences on time “The government shutdown is bad enough, but failure to raise the debt ceiling would be far worse.” It is ‘mission critical’ that this be resolved as soon as possible.” In New Zealand, Wheeler’s comments suggested the country’s outlook is far better bringing monetary consequences to the country “OCR increases will likely be required next year. The extent and timing of the rise in policy rates will depend largely on the degree to which the momentum in the housing market and construction sector spills over into broader demand and inflation pressures. We expect to keep the OCR unchanged in 2013”.
NZD/USD Technical Levels
Technically speaking, the pair lost the upward trendline started last August 30th but managed to pull off a tentative breakthrough that failed on last Thursday’s fall. Forming a double tops pattern limited at 0.8343, the pair plunges ahead of Tokyo’s opening close to losing the 0.8280 zone. Offered at 0.8283, it oscillates between supports aligned at 0.8270 (September 30th lows), 0.8245 (October 1st lows) followed by 0.82 (October 2nd lows) and resistances set at 0.8319 (September 27th highs), 0.8343 (October 2nd highs) ahead of 0.8363 (September 23rd lows) above the EMA20 on FXstreet.com trend index.
Messy US, bullish NZ
Earlier today, IMF’s Lagarde insisted on how important it is for the US to solve its political differences on time “The government shutdown is bad enough, but failure to raise the debt ceiling would be far worse.” It is ‘mission critical’ that this be resolved as soon as possible.” In New Zealand, Wheeler’s comments suggested the country’s outlook is far better bringing monetary consequences to the country “OCR increases will likely be required next year. The extent and timing of the rise in policy rates will depend largely on the degree to which the momentum in the housing market and construction sector spills over into broader demand and inflation pressures. We expect to keep the OCR unchanged in 2013”.
NZD/USD Technical Levels
Technically speaking, the pair lost the upward trendline started last August 30th but managed to pull off a tentative breakthrough that failed on last Thursday’s fall. Forming a double tops pattern limited at 0.8343, the pair plunges ahead of Tokyo’s opening close to losing the 0.8280 zone. Offered at 0.8283, it oscillates between supports aligned at 0.8270 (September 30th lows), 0.8245 (October 1st lows) followed by 0.82 (October 2nd lows) and resistances set at 0.8319 (September 27th highs), 0.8343 (October 2nd highs) ahead of 0.8363 (September 23rd lows) above the EMA20 on FXstreet.com trend index.