NZD/USD swinging wildly with bids at 0.8270

FXstreet.com (Chicago) - NZD/USD presents a neutral EMA20 and yet extends the steady and slowly climb despite wild swings ahead of the Fed’s decision and shortly after US inflation results.

Slight climb on Fed's specs

Recent inflation data released in the US along with the numerous speculations lingering around on the Fed’s decision in regards to the monetary policies that aim to fuel the US economy, seem to constantly reset price action back to the 0.8260 front. Tied to commodities price variations and the performance of New Zealand’s economy (including China and Australia), the kiwi hangs on to the steady yet slowly climb that originated last December 12th.

NZD/USD Technical Levels

Technically speaking, the pair is offered at 0.8266 and navigates between the supports aligned at 0.8243 (December 16th lows), 0.82 (December 13th lows) ahead of 0.8139 (December 6th lows) and the resistances set at 0.8287 (December 16th highs), 0.8318 (December 12th highs) followed by 0.8335 (December 10th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and presents a neutral EMA20.