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4 Oct 2013
NZD/USD grinds slowly upwards
FXstreet.com (Athens) – Despite the growing concern all over the globe, about both the US federal budget as well as the debt-ceiling, the NZD/USD is heading slightly upwards amidst a risk-off sentiment.
NZD/USD moves at a tight range amidst a very light calendar data day
The “Kiwi” has been appreciated across the board since the opening of the Asian trading session, gaining approximately 0.3% against the greenback. Traders should not be taken aback by the “kiwi” outperformance amidst the risk-off environment and ahead of the debt-ceiling issue. Many analysts consider that the political drama show-off of the US debt ceiling is an “old hat story” and seems no political power – Republican or Democratic – wants to lead the US to another financial crisis, therefore the lawmakers will finally raise the debt-ceiling. Indeed, the issue might drag on a bit, but finally a solution will be reached till the 17th October as of 2013.
Technical Outlook on the NZD/USD
At the time of writing the cross is trading at 0.8330, up 0.03%. The FXstreet.com Trend Index shows the pair to be slightly bullish and overbought in the 15 minutes chart. Daily pivot point support and resistance can be found at S3: 0.8262 S2: 0.8241 S3:0.8220 R1: 0.8403 R2: 0.8424 R3: 0.8445
NZD/USD moves at a tight range amidst a very light calendar data day
The “Kiwi” has been appreciated across the board since the opening of the Asian trading session, gaining approximately 0.3% against the greenback. Traders should not be taken aback by the “kiwi” outperformance amidst the risk-off environment and ahead of the debt-ceiling issue. Many analysts consider that the political drama show-off of the US debt ceiling is an “old hat story” and seems no political power – Republican or Democratic – wants to lead the US to another financial crisis, therefore the lawmakers will finally raise the debt-ceiling. Indeed, the issue might drag on a bit, but finally a solution will be reached till the 17th October as of 2013.
Technical Outlook on the NZD/USD
At the time of writing the cross is trading at 0.8330, up 0.03%. The FXstreet.com Trend Index shows the pair to be slightly bullish and overbought in the 15 minutes chart. Daily pivot point support and resistance can be found at S3: 0.8262 S2: 0.8241 S3:0.8220 R1: 0.8403 R2: 0.8424 R3: 0.8445