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21 Feb 2014
NZD/USD is paralyzed at the pivotal 0.8300 level
FXStreet (Moscow) - NZD/USD is practically unmovable as it trades within a narrow 20-pips range after opening just above the pivotal level of 0.8300.
NZD/USD is trying to reverse losses
Kiwi ended the trading session on Thursday in the green zone, and thus finished the three day decline. This is a remarkable fact as the currency pair dropped to intraday lows of 0.8243 after the Chinese flash PMI showed that the largest Asian economy is slowing down. But bears quickly lost the initiative and the pair returned to the area slightly above 0.8300. Friday promises to be quiet unless the US data springs a surprise on the markets. Existing home sales report scheduled for today may become a market mover should it deviate from the forecasted 4.73 mln. Otherwise traders will adjust positions ahead of the weekend and keep the trade volumes low. The key levels to watch on the intraday basis: 0.8280 and 0.8243 оn the downside and 0.8340 on the upside.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8289, with support below at 0.8261, 0.8216 and 0.8188, with resistance above at 0.8334, 0.8362 and 0.8407. Hourly Moving Averages are mixed, with the 200SMA at 0.8324 and the daily 20EMA at 0.8284. Hourly RSI is neutral at 57
NZD/USD is trying to reverse losses
Kiwi ended the trading session on Thursday in the green zone, and thus finished the three day decline. This is a remarkable fact as the currency pair dropped to intraday lows of 0.8243 after the Chinese flash PMI showed that the largest Asian economy is slowing down. But bears quickly lost the initiative and the pair returned to the area slightly above 0.8300. Friday promises to be quiet unless the US data springs a surprise on the markets. Existing home sales report scheduled for today may become a market mover should it deviate from the forecasted 4.73 mln. Otherwise traders will adjust positions ahead of the weekend and keep the trade volumes low. The key levels to watch on the intraday basis: 0.8280 and 0.8243 оn the downside and 0.8340 on the upside.
What are today’s key NZD/USD levels?
Today's central pivot point can be found at 0.8289, with support below at 0.8261, 0.8216 and 0.8188, with resistance above at 0.8334, 0.8362 and 0.8407. Hourly Moving Averages are mixed, with the 200SMA at 0.8324 and the daily 20EMA at 0.8284. Hourly RSI is neutral at 57