Monday, April 23, 2018
Banner Top
NZD/USD drifting in Tokyo after jobs data beat, trading near 0.7330
Banner Content
  • Kiwi slowly leaking back gains from positive data during a quiet Asia session.
  • Recent risk aversion sparked temporary Dollar popularity, Greenback selling set to continue.

NZD/USD trading doftly down in Asia, near 0.7330 after a good jump minutes before the NY close on a jobs data beat. The Kiwi has appreciated against the US Dollar the past two months as market confidence evaporated for the Greenback, but the recent bout of risk aversion seen in markets has sent the Dollar back up the charts, albeit briefly.

New Zealand’s RBNZ will be publishing their interest rate decision and monetary policy statement today at 20:00, and while the bank is widely expected to stand pat on interest rates for the time being, an overly hawkish tone from the RBNZ could send the Kiwi back up the charts.

NZD/USD Technicals

It hasn’t been a smooth ride for the NZD/USD pair lately, with volatility punishing technical traders. Intraday support/resistance priced in at 0.7324 and 0.7345 respectively, while Daily charts are still stubbornly bullish, with price still  trading well above the 34 EMA and 200-day SMA despite the recent pullback.

Today’s pivot points:
R2: 0.7409
R1: 0.7374
PP: 0.7315
S1: 0.7280
S2: 0.7221

Banner Content


Leave a Comment