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27 Feb 2015
NZD/USD seeking topside liquidity circa 0.7545/50.
FXStreet (Bali) - NZD/USD is trading higher during the Tokyo open, currently at 0.7545 session high, after the NBNZ business outlook came well above expectations, adding to the collection of positive economic data in the country.
Cameron Bagrie, Chief Economist at ANZ
"Business sentiment has started the year with an extremely positive tone. Firms’ own activity expectations, employment and investment intentions are all robust and consistent with the economic expansion rolling on at a hefty clip. Pricing gauges remain tame. The RBNZ’s sabbatical is looking to be a long one."
Jim Langlands, Founder at FXCharts
"While holding on above 0.7500 the Kiwi remains comparatively firm, and currently sits right on where the 100/200 HMA’s have converged. A break of 0.7500 could see an acceleration lower towards the rising trend support at 0.7460 and then to the Fibo support at 0.7445 (38.2% of 0.7175/0.7610) beneath which, the next target will be the 13 Feb low at 0.7410 and then 0.7400. On the topside, while the US$ retains its bid tone, sellers will arrive at minor Fibo resistances today at 0.7540, 0.7555 and 0.7575."
Cameron Bagrie, Chief Economist at ANZ
"Business sentiment has started the year with an extremely positive tone. Firms’ own activity expectations, employment and investment intentions are all robust and consistent with the economic expansion rolling on at a hefty clip. Pricing gauges remain tame. The RBNZ’s sabbatical is looking to be a long one."
Jim Langlands, Founder at FXCharts
"While holding on above 0.7500 the Kiwi remains comparatively firm, and currently sits right on where the 100/200 HMA’s have converged. A break of 0.7500 could see an acceleration lower towards the rising trend support at 0.7460 and then to the Fibo support at 0.7445 (38.2% of 0.7175/0.7610) beneath which, the next target will be the 13 Feb low at 0.7410 and then 0.7400. On the topside, while the US$ retains its bid tone, sellers will arrive at minor Fibo resistances today at 0.7540, 0.7555 and 0.7575."