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20 Nov 2013
NZD/USD reverses the run up
FXstreet.com (London) - NZD/USD has drifted lower steeply, from the 0.8396 high, the pair is marking a low of 0.8285.
The fundamental news was positive, there was a positive rise in New Zealand's producer prices (Q3 input 2.2% from 0.6% and output 2.4% from 1.0%). This will reinforce ideas that the RBNZ can raise rates in the first part of next year. For its part, the Kiwi is in a tight near-term trading range, according to analysts at BBH.
NZD/USD Levels
The 20 DMA is 0.8303, the 50 DMA is 0.8311 and the 200 DMA is 0.8176. RSI (14) 32.47. Supports are ascending from 0.8196 and 0.8231. Spot is 0.8285 and resistances are 0.8309, 0.8350, 0.8415, 0.8446, 0.8478 and 0.8544.
The fundamental news was positive, there was a positive rise in New Zealand's producer prices (Q3 input 2.2% from 0.6% and output 2.4% from 1.0%). This will reinforce ideas that the RBNZ can raise rates in the first part of next year. For its part, the Kiwi is in a tight near-term trading range, according to analysts at BBH.
NZD/USD Levels
The 20 DMA is 0.8303, the 50 DMA is 0.8311 and the 200 DMA is 0.8176. RSI (14) 32.47. Supports are ascending from 0.8196 and 0.8231. Spot is 0.8285 and resistances are 0.8309, 0.8350, 0.8415, 0.8446, 0.8478 and 0.8544.