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19 Mar 2014
NZD/USD extending losses to test 0.8540 support
FXStreet (Guatemala) - NZD/USD has edged lower still in an extension on the North American fall out despite New Zealand GDP slightly improving upon expectations at 3.1% vs 3.0% consensus and 3.5% previous YoY for (Q4), but remaining in line QoQ at 0.9%.
NZD/USD has lost all of its gains from Tuesday’s rally, dropping the 0.86 handle and is now testing the 0.8540 support level. The main area from the calendar that markets are focusing their attention to, however, is the FOMC where the Fed tapered $10B from the their asset purchasing programme and gave rise to a more hawkish outlook.
NZD/USD Levels
The 20 DMA is 0.8422, the 50 DMA is 0.8335 and the 200 DMA is 0.8167. RSI (14) 42.04. Supports are 0.8497, 0.8510 and 0.8540. Spot is 0.8538 while resistances are 0.8582, 0.8610, 0.8641, 0.8676, 0.8733 and 0.8794.
NZD/USD has lost all of its gains from Tuesday’s rally, dropping the 0.86 handle and is now testing the 0.8540 support level. The main area from the calendar that markets are focusing their attention to, however, is the FOMC where the Fed tapered $10B from the their asset purchasing programme and gave rise to a more hawkish outlook.
NZD/USD Levels
The 20 DMA is 0.8422, the 50 DMA is 0.8335 and the 200 DMA is 0.8167. RSI (14) 42.04. Supports are 0.8497, 0.8510 and 0.8540. Spot is 0.8538 while resistances are 0.8582, 0.8610, 0.8641, 0.8676, 0.8733 and 0.8794.