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30 Jun 2015
NZD/USD: in recovery post Bears marking fresh weekly lows
FXStreet (Guatemala) - NZD/USD is currently trading ay 0.6777 with a high of 0.6856 and a low of 0.6747.
NZD/USD is in consolidation ahead of the Asian open after another poor performance across the board. The bird is supported however at current levels in the well defined descending channel.
NZD/USD price action
NZD/USD dropped sharply down through the 0.68 psychological figure in Europe and extended Asia's supply from 0.6840 territory that met support post poor domestic data for the bird. The European supply reached as low as 0.6747 before recovering back to 0.6785 in London's afternoon where the price has been drifting sideways.
NZD/USD live fundamentals
NZD/USD has been shunned on continued speculation that the RBNZ has not done enough with its recent OCR cut. Yesterday's business conditions and outlook from ANZ justified the cause for concern. The numbers for May came in at -2.3 vs 15.7 previous. That coupled with the Greek debacle, investors are less prone to invest in riskier asset classes and the bird has been sidelined while uncertainty plays out in the global financial markets. Nonfarm Payrolls this week will be one to watch also.
NZD/USD technically bearish
NZD/USD bears made a fresh low while the bird had not traded there since June 4th 2010's weekly stick and the risk-off conditions make for a sell on rallies with 0.6590 as bears key target. On the same wide basis, 0.7200 comes as key range resistance with 0.6780 marking R1 and 0.6880 thereafter to bring the bulls back in with a say.
NZD/USD is in consolidation ahead of the Asian open after another poor performance across the board. The bird is supported however at current levels in the well defined descending channel.
NZD/USD price action
NZD/USD dropped sharply down through the 0.68 psychological figure in Europe and extended Asia's supply from 0.6840 territory that met support post poor domestic data for the bird. The European supply reached as low as 0.6747 before recovering back to 0.6785 in London's afternoon where the price has been drifting sideways.
NZD/USD live fundamentals
NZD/USD has been shunned on continued speculation that the RBNZ has not done enough with its recent OCR cut. Yesterday's business conditions and outlook from ANZ justified the cause for concern. The numbers for May came in at -2.3 vs 15.7 previous. That coupled with the Greek debacle, investors are less prone to invest in riskier asset classes and the bird has been sidelined while uncertainty plays out in the global financial markets. Nonfarm Payrolls this week will be one to watch also.
NZD/USD technically bearish
NZD/USD bears made a fresh low while the bird had not traded there since June 4th 2010's weekly stick and the risk-off conditions make for a sell on rallies with 0.6590 as bears key target. On the same wide basis, 0.7200 comes as key range resistance with 0.6780 marking R1 and 0.6880 thereafter to bring the bulls back in with a say.