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3 Oct 2013
NZD/USD on the offer despite hawkish RBNZ comments
FXstreet.com (London) - NZD/USD has met further supply at the 0.8300 handle having caught a small bounce when the pair fell from 0.8341.
NZD/USD had been on the bid in response to RBNZ Wheeler’s newspaper article on LVRs and the cash rate, released during thin NYC trading time yesterday. “It added a half-cent to a peak of $US.834 after reading “We currently expect that the OCR could increase by 2% by the beginning of 2016. If the loan-to-value (LVR) speed limit is unable to slow house price inflation, larger increases … would be required.” This is not new news to regular kiwi-watchers, with this view already published in the Sept 12 Monetary Policy Statement, but was an excuse to buy back the recently underperforming currency”, explained research teams at TD Securities.
NZD/USD Levels
The 20 DMA is 0.8210, the 50 DMA is 0.8040, and the 200 DMA is 0.8181. RSI (14) reads 55.00. Supports are ascending from 0.8190, 0.8228, 0.8261 and 0.8284. Spot is currently 0.8290 while resistances are 0.8313, 0.8341, 0.8374, 0.8390 and 0.8436.
NZD/USD had been on the bid in response to RBNZ Wheeler’s newspaper article on LVRs and the cash rate, released during thin NYC trading time yesterday. “It added a half-cent to a peak of $US.834 after reading “We currently expect that the OCR could increase by 2% by the beginning of 2016. If the loan-to-value (LVR) speed limit is unable to slow house price inflation, larger increases … would be required.” This is not new news to regular kiwi-watchers, with this view already published in the Sept 12 Monetary Policy Statement, but was an excuse to buy back the recently underperforming currency”, explained research teams at TD Securities.
NZD/USD Levels
The 20 DMA is 0.8210, the 50 DMA is 0.8040, and the 200 DMA is 0.8181. RSI (14) reads 55.00. Supports are ascending from 0.8190, 0.8228, 0.8261 and 0.8284. Spot is currently 0.8290 while resistances are 0.8313, 0.8341, 0.8374, 0.8390 and 0.8436.