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3 Jun 2014
NZD/USD a sell on rallies
FXStreet (Guatemala) - Currently, NZD/USD is trading at 0.8443, down -0.10% on the day, having posted a daily high at 0.8459 and low at 0.8440.
NZD/USD has been pressing on with the descending trend line and the bear’s stamp on anything that tests that trend currently. RBS strategists explained from a longer-term perspective as well that “It still feels like selling anything with an 0.87 handle is the right strategy. Again, crushed vol and moribund markets are not (yet) ripe conditions for the big Kiwi crash ... NZD is a slow, patient, multi week sell on rallies”.
NZD/USD Levels
With spot trading at 0.8444, we can see next resistance ahead at 0.8450 (Daily Classic S2), 0.8452 (Daily Open), 0.8452 (Monthly Low), 0.8452 (Weekly Low) and 0.8459 (Daily High). Support below can be found at 0.8440 (Weekly Classic S1), 0.8440 (Daily Low), 0.8440 (Yesterday's Low), 0.8429 (Daily Classic S3) and 0.8381 (Weekly Classic S2).
NZD/USD has been pressing on with the descending trend line and the bear’s stamp on anything that tests that trend currently. RBS strategists explained from a longer-term perspective as well that “It still feels like selling anything with an 0.87 handle is the right strategy. Again, crushed vol and moribund markets are not (yet) ripe conditions for the big Kiwi crash ... NZD is a slow, patient, multi week sell on rallies”.
NZD/USD Levels
With spot trading at 0.8444, we can see next resistance ahead at 0.8450 (Daily Classic S2), 0.8452 (Daily Open), 0.8452 (Monthly Low), 0.8452 (Weekly Low) and 0.8459 (Daily High). Support below can be found at 0.8440 (Weekly Classic S1), 0.8440 (Daily Low), 0.8440 (Yesterday's Low), 0.8429 (Daily Classic S3) and 0.8381 (Weekly Classic S2).