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19 Aug 2013
NZD/USD bid through 0.8100
FXstreet.com (Barcelona) - The overriding story in today’s Asia-Pac session was the ongoing capital flight from emerging markets amid poor domestic data/policy uncertainty, compounded by a degree of nervousness about the prospect of September Fed tapering.
Amid this wave of EM selling, the Antipodean currencies were bid, with NZD up around ¼ percentage point today. Only second tier data released today. The PSI rose to 58.1 in July, from 55.0 (no consensus); PPI output prices rose +1.0% q/q in Q2 (prior +0.8%, no consensus). News that the NZ government has withdrawn export certification for certain milk products shipped to China (following the recent contamination scare) made a few headlines, but had little impact on the markets. - Said research teams at TD Securities.
NZD/USD bullish bias
NZD/USD is bid with the 20 dma 0.7985, 50 dma 0.7905, 200 dma 0.8213. RSI (9) reads 65.94 Supports are ascending from 0.8010, 0.8038, 0.8050, 0.8079. Spot is currently 0.8135 while resistances are 0.8137, 0.8164, .08173 and 0.8213.
Amid this wave of EM selling, the Antipodean currencies were bid, with NZD up around ¼ percentage point today. Only second tier data released today. The PSI rose to 58.1 in July, from 55.0 (no consensus); PPI output prices rose +1.0% q/q in Q2 (prior +0.8%, no consensus). News that the NZ government has withdrawn export certification for certain milk products shipped to China (following the recent contamination scare) made a few headlines, but had little impact on the markets. - Said research teams at TD Securities.
NZD/USD bullish bias
NZD/USD is bid with the 20 dma 0.7985, 50 dma 0.7905, 200 dma 0.8213. RSI (9) reads 65.94 Supports are ascending from 0.8010, 0.8038, 0.8050, 0.8079. Spot is currently 0.8135 while resistances are 0.8137, 0.8164, .08173 and 0.8213.