Back
1 Oct 2013
NZD/USD heavy supply but catching a small bounce
FXstreet.com (London) - The NZD/USD has been dropping from the highs of 0.8343 to around a big figure lower for 0.8244.
NZD/USD is currently trading down -0.51% at 0.8259 despite a government shutdown in the US.
However, Sebastien Galy, strategist at Societe Generale, explained that cheap high yielders from AUD to NZD and CAD have had a tendency to outperform, a typical asset allocation result in a more supportive global growth environment. “The length of the US government shutdown may determine if that growth optimism survives, but it is one of the trends to watch”.
NZD/USD Levels
The 20 DMA is 0.8165, the 50 DMA is 0.8026 and the 200 DMA is 0.8180. RSI (14) reads 35.07. Supports are ascending from 0.8217, 0.8235 and 0.8243. Spot is 0.8264 while resistance are coming in at 0.8291, 0.8352, 0.8374, 0.8436 and 0.8461.
NZD/USD is currently trading down -0.51% at 0.8259 despite a government shutdown in the US.
However, Sebastien Galy, strategist at Societe Generale, explained that cheap high yielders from AUD to NZD and CAD have had a tendency to outperform, a typical asset allocation result in a more supportive global growth environment. “The length of the US government shutdown may determine if that growth optimism survives, but it is one of the trends to watch”.
NZD/USD Levels
The 20 DMA is 0.8165, the 50 DMA is 0.8026 and the 200 DMA is 0.8180. RSI (14) reads 35.07. Supports are ascending from 0.8217, 0.8235 and 0.8243. Spot is 0.8264 while resistance are coming in at 0.8291, 0.8352, 0.8374, 0.8436 and 0.8461.