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3 Oct 2013
NZD/USD giving back a little after a huge bullish engulfing candle on Wednesday
FXstreet.com (Barcelona) - The NZD/USD is trading modestly lower early Thursday after posting a gaudy bullish engulfing candle on the daily chart Wednesday after news came out indicating renewed RBNZ hawkishness.
NZD/USD traders to focus on geo-politics and US data later Thursday
The NZD/USD will surely be yanked around by the news flow out of Washington in the short-term, the cross may have a fairly persistent tailwind going forward as the RBNZ is making it clear that they take seriously the potential for a housing bubble in New Zealand – as well as their intention to combat it with higher rates.
Along with the ongoing news flow out of Washington Thursday, NZD/USD traders will get to trade around US weekly jobless claims, construction spending and factory orders as well as multiple Fed Head speeches.
Technical outlook for NZD/USD
Technicians say resistance for NZD/USD comes in at 0.8311 and short-term support comes in at 0.8192. The next meaningful resistance and support for NZD/USD comes is at 0.8435 and 0.8126 respectively.
NZD/USD traders to focus on geo-politics and US data later Thursday
The NZD/USD will surely be yanked around by the news flow out of Washington in the short-term, the cross may have a fairly persistent tailwind going forward as the RBNZ is making it clear that they take seriously the potential for a housing bubble in New Zealand – as well as their intention to combat it with higher rates.
Along with the ongoing news flow out of Washington Thursday, NZD/USD traders will get to trade around US weekly jobless claims, construction spending and factory orders as well as multiple Fed Head speeches.
Technical outlook for NZD/USD
Technicians say resistance for NZD/USD comes in at 0.8311 and short-term support comes in at 0.8192. The next meaningful resistance and support for NZD/USD comes is at 0.8435 and 0.8126 respectively.