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18 Sep 2015
NZD/USD heading for a positive close on 0.64 handle
FXStreet (Guatemala) - NZD/USD is consolidating on the 0.64 handle as we approach the close of a busy week, with the pair mixed after the FOMC and Fed's decision to hold.
The highs of yesterday were exceeded on the reversal in risk that took the pair to 0.6457. Supply has knocked the pair back to test the bulls commitments at the 0.64 level and attracted some demand supporting the bird towards a positive close for the week having made the highest level for the month so far. In respect to the Fed, they will continue to monitor for signals back towards their 2% inflation target and will look for an improvement in the labour market and stabilization in the global economy before hiking rates.
NZD/USD levels
On a full recovery, the next line of resistance above recent and aforementioned highs stands at the 50 DMA at 0.6502. To the downside, the 20 DMA is located at 0.6367 that guards the 0.6250 area and lows of earlier in the month.
The highs of yesterday were exceeded on the reversal in risk that took the pair to 0.6457. Supply has knocked the pair back to test the bulls commitments at the 0.64 level and attracted some demand supporting the bird towards a positive close for the week having made the highest level for the month so far. In respect to the Fed, they will continue to monitor for signals back towards their 2% inflation target and will look for an improvement in the labour market and stabilization in the global economy before hiking rates.
NZD/USD levels
On a full recovery, the next line of resistance above recent and aforementioned highs stands at the 50 DMA at 0.6502. To the downside, the 20 DMA is located at 0.6367 that guards the 0.6250 area and lows of earlier in the month.