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2 Oct 2013
NZD/USD testing 0.8220 support
FXstreet.com (Barcelona) - While NZD/USD remains in a wide 0.8220 - 0.8340 consolidation mode, the consistent sell-off we are seeing in Asia has sent the pair towards the lower edge of its range.
NZD/USD pressing against key support
The heaviness in the AUD/USD after the downbeat data in building permits/trade deficit coupled with AUD/NZD remaining well bid, is the combo adding pressure to the NZD/USD, although only a clean breakout of 0.8210/20 ahead of 0.82 round number would really inflict real technical damage to the pair. On the upside, a recovery above 0.8350 required to stimulate the broader uptrend.
RBNZ McDermott eyed
Later on the Asian session, John McDermott, who is Assistant Governor and Head of Economics at the Reserve Bank of New Zealand will be giving a speech - 11.30 GMT - with the title “Shifting gear: why have neutral interest rates fallen?.
NZD/USD pressing against key support
The heaviness in the AUD/USD after the downbeat data in building permits/trade deficit coupled with AUD/NZD remaining well bid, is the combo adding pressure to the NZD/USD, although only a clean breakout of 0.8210/20 ahead of 0.82 round number would really inflict real technical damage to the pair. On the upside, a recovery above 0.8350 required to stimulate the broader uptrend.
RBNZ McDermott eyed
Later on the Asian session, John McDermott, who is Assistant Governor and Head of Economics at the Reserve Bank of New Zealand will be giving a speech - 11.30 GMT - with the title “Shifting gear: why have neutral interest rates fallen?.