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25 May 2015
NZD/USD: 0.7280/00 supports despite a dovish RBNZ
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7303 with a high of 0.7325 and a low of 0.7296.
NZD/USD has been in negative territory below 0.7420 and capped by the round number of 0.74 while bears are in charge putting pressure on NZD/USD to test the 0.73 handles commitments from the bulls which are so far holding the fort march 18th lows of 0.7314. The greenback is in charge yet again with a bullish economic outlook from Yellen while markets are stepping aside from longs in the bird where the RBNZ are in a tight spot in respect to potentially engaging in a fully dovish attitude to the OCR to prevent further weakness in the economy.
NZD/USD technically bearish on 0.73 support
Technically, on the charts, NZD/USD is a sell on rallies although the pair is starting to consolidate the downside at this supporting zone at 0.7281/00 and May lows. Daily RSI (14) has some to go yet until we are reading over sold with 0.7108 coming as 2011 March low being a psychological level to target on any continued supply that may occur through 0.7200.
NZD/USD has been in negative territory below 0.7420 and capped by the round number of 0.74 while bears are in charge putting pressure on NZD/USD to test the 0.73 handles commitments from the bulls which are so far holding the fort march 18th lows of 0.7314. The greenback is in charge yet again with a bullish economic outlook from Yellen while markets are stepping aside from longs in the bird where the RBNZ are in a tight spot in respect to potentially engaging in a fully dovish attitude to the OCR to prevent further weakness in the economy.
NZD/USD technically bearish on 0.73 support
Technically, on the charts, NZD/USD is a sell on rallies although the pair is starting to consolidate the downside at this supporting zone at 0.7281/00 and May lows. Daily RSI (14) has some to go yet until we are reading over sold with 0.7108 coming as 2011 March low being a psychological level to target on any continued supply that may occur through 0.7200.