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3 Apr 2014
NZD/USD hitting back
FXStreet (Barcelona) - Currently, NZD/USD is trading at 0.8573, hitting back and up 0.05% on the day, having posted a daily high at 0.8577 and low at 0.8568.
NZD and commodity prices
BNZ Research team explained one dynamic that has become increasingly apparent in respect of the NZD. “Commodity prices are now the leading indicator of NZD strength, outstripping traditional drivers such as interest rate differentials and risk appetite…We watch this space with interest, as declining commodity prices (from record highs) are a key component of our view for a lower NZD over this year (and the next)”.
NZD/USD averages higher
Looking to a daily chart, we see that RSI is neutral at 65.49. The 200 SMA is currently at 0.8625, up from 0.8613 at the last period close, and climbing on the hourly NZD/USD chart. Moving in an upward trend, the exponential average closing price is 0.8551.
NZD/USD Levels
Current price is 0.8575, with resistance ahead at 0.8577 (Daily High), 0.8578 (Hourly 20 EMA), 0.8595 (Daily Classic S2), 0.8613 (Hourly 200 SMA) and 0.8617 (Daily Classic S1). Next support to the downside can be found at 0.8573 (Daily Open), 0.8571 (Weekly Low), 0.8568 (Daily Low), 0.8552 (Daily Classic S3) and 0.8551 (Daily 20 SMA).
NZD and commodity prices
BNZ Research team explained one dynamic that has become increasingly apparent in respect of the NZD. “Commodity prices are now the leading indicator of NZD strength, outstripping traditional drivers such as interest rate differentials and risk appetite…We watch this space with interest, as declining commodity prices (from record highs) are a key component of our view for a lower NZD over this year (and the next)”.
NZD/USD averages higher
Looking to a daily chart, we see that RSI is neutral at 65.49. The 200 SMA is currently at 0.8625, up from 0.8613 at the last period close, and climbing on the hourly NZD/USD chart. Moving in an upward trend, the exponential average closing price is 0.8551.
NZD/USD Levels
Current price is 0.8575, with resistance ahead at 0.8577 (Daily High), 0.8578 (Hourly 20 EMA), 0.8595 (Daily Classic S2), 0.8613 (Hourly 200 SMA) and 0.8617 (Daily Classic S1). Next support to the downside can be found at 0.8573 (Daily Open), 0.8571 (Weekly Low), 0.8568 (Daily Low), 0.8552 (Daily Classic S3) and 0.8551 (Daily 20 SMA).