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1 Aug 2014
NZD/USD took a pause to breathe above 0.85
FXStreet (Moscow) - NZD/USD opened the day at 0.8497, posted high at 0.8509, but was scared away to 0.8503 by the moment.
Unusual NFP
The recently released Chinese PMI data came out higher than expected supporting the view the trading volumes with New Zealand won’t fall in future. It helped the pair to rebound a bit. Kiwi took a pause to take a breath, and may breathe for some time, as the expectations for USD strength may be slashed tonight by the Non-Farm Payrolls. Today is not a usual day, as we won’t get leading indicators from labor market in form of Manufacturing and Non-Manufacturing ISM leaving the market guessing which way the employment level goes. The recent ADP, Challenger and Jobless claims data point to some weakness, and if it’s true, we may see the kiwi recovering with initial target at 0.8523 resistance.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8497, with support below at 0.8474, 0.8448 and 0.8425, with resistance above at 0.8523, 0.8546 and 0.8572. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8572 and the daily 20EMA is bearish at 0.8632. Hourly RSI is bullish at 54.
Unusual NFP
The recently released Chinese PMI data came out higher than expected supporting the view the trading volumes with New Zealand won’t fall in future. It helped the pair to rebound a bit. Kiwi took a pause to take a breath, and may breathe for some time, as the expectations for USD strength may be slashed tonight by the Non-Farm Payrolls. Today is not a usual day, as we won’t get leading indicators from labor market in form of Manufacturing and Non-Manufacturing ISM leaving the market guessing which way the employment level goes. The recent ADP, Challenger and Jobless claims data point to some weakness, and if it’s true, we may see the kiwi recovering with initial target at 0.8523 resistance.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8497, with support below at 0.8474, 0.8448 and 0.8425, with resistance above at 0.8523, 0.8546 and 0.8572. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8572 and the daily 20EMA is bearish at 0.8632. Hourly RSI is bullish at 54.