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11 Dec 2014
NZD/USD consolidated and robust
FXStreet (Guatemala) - NZD/USD is trading at 0.7804, up 0.01% on the day, having posted a daily high at 0.7809 and low at 0.7800.
NZD/USD has been consolidated in Europe and the US post yesterday's spike and rally that lead to almost a 200 gain in the bird after the RBNZ left the cash rate at 3.5% but coming over far more hawkish in comparison to previous meeting with the surprise statement, “Some further increase in the OCR is expected to be required”.
We have just had a lower reading than previous in the Business PMI, 55.2 vs 59.3, and we remain unchanged on the release as second tier data. The main focus remains on the RBNZ though and their positive outlook, which has enabled the Kiwi to remain resilient to an otherwise stronger greenback overnight.
To the upside, the pair is moving against a very strong and long-term bearish trend, and analysts sight the greenback to be in the top spot in 2015. Fundamentally that trend is set to continue at this stage and much to the RBNZ's delight calling for a lower bird. However, with spot trading at 0.7805 we have the next major resistance at 0.7849 (Weekly Classic R1), 0.7873 (Yesterday's High) and 0.7881 (Daily Classic R1). The next FOMC and Japanese elections are next key data to watch this month.
NZD/USD has been consolidated in Europe and the US post yesterday's spike and rally that lead to almost a 200 gain in the bird after the RBNZ left the cash rate at 3.5% but coming over far more hawkish in comparison to previous meeting with the surprise statement, “Some further increase in the OCR is expected to be required”.
We have just had a lower reading than previous in the Business PMI, 55.2 vs 59.3, and we remain unchanged on the release as second tier data. The main focus remains on the RBNZ though and their positive outlook, which has enabled the Kiwi to remain resilient to an otherwise stronger greenback overnight.
To the upside, the pair is moving against a very strong and long-term bearish trend, and analysts sight the greenback to be in the top spot in 2015. Fundamentally that trend is set to continue at this stage and much to the RBNZ's delight calling for a lower bird. However, with spot trading at 0.7805 we have the next major resistance at 0.7849 (Weekly Classic R1), 0.7873 (Yesterday's High) and 0.7881 (Daily Classic R1). The next FOMC and Japanese elections are next key data to watch this month.