OctaFX | OctaFX Forex Broker
Open trading account
Back

NZD/USD climbed to 0.7760 resistance in attempt to recover

FXStreet (Moscow) - NZD/USD is recovering from the multi-month lows at 0.7707 reached during Asian hours; the pair is poking at 0.7760 resistance

Kiwi cries Uncle!

There is no respite for kiwi as the New Zealand currency opened the week with another epic decline, caused by newly re-elected New Zealand Prime Minister John Key saying that the fair value of NZD is 65 cents. It implies another 15% of decline from current levels. Moreover, RBNZ was fought red-handed intervening in Asia, which increased the downside pressure on the currency. Though technically strong support area of 0.7700 with large bids on approach, freezes the enthusiasm of kiwi bears and triggered profit taking. The pair is definitely oversold, but the bulls need to climb well above 0.7750/60 resistance to get a chance for a more meaningful correction

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7894, while support below at 0.7830 and 0.7796 now serves as the resistance. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8074 and the daily 20EMA bearish at 0.8151. Hourly RSI is bearish at 18

Asia Recap: RBNZ cuts Kiwi's tiny wings by confirming intervention

The Kiwi was the worst performer in Asia, as the RBNZ confirmed on the August's FX transaction that it had intervened selling more than 500m NZD, the largest sum since July 2007.
Read more Previous

USD/JPY trying to get above 109.50

USD/JPY is oscillating within a narrow range limited by 109.55 on the upside and 109.26 on the downside with light bullish bias.
Read more Next
Start livechat