#NZDUSD @ 0.60785 bulls are in riding the AUD´s coattails. (Pivot Orderbook analysis)
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- NZD/USD bulls are in riding the AUD´s coattails.
- Focus will turn domestic with NZ GDP coming up.
The pair currently trades last at 0.60785.
The previous day high was 0.6086 while the previous day low was 0.6041. The daily 38.2% Fib levels comes at 0.6069, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6058, expected to provide support.
NZD/USD has been range bound in the prior day following the Reserve Bank of Australia´s surprise hawkish hike. NZD/USD is steady in early Asia, sitting near 0.6075.
´´The Kiwi is little changed this morning and most crosses, with the exception of NZD/AUD, are likewise following a fairly muted night on global FX markets,´´ analysts at ANZ Bank explained.
The analysts explained with the RBA behind us and the AU market now pricing in a follow-up hike, the focus returns to local data and events.
In this regard, markets will be looking to New Zealand’s first quarter Gross Domestic Product partials, the analysts said, like manufacturing (tomorrow) out and the Fed in blackout ahead of its meeting next week.
´´We continue to think about carry but are beginning to ask if NZ’s external position might suddenly become a sticking point when current account data is published next week.´´
Technical Levels: Supports and Resistances
NZDUSD currently trading at 0.6075 at the time of writing. Pair opened at 0.6069 and is trading with a change of 0.1 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6075 |
| 1 | Today Daily Change | 0.0006 |
| 2 | Today Daily Change % | 0.1000 |
| 3 | Today daily open | 0.6069 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6167, 50 SMA 0.6201, 100 SMA @ 0.6247 and 200 SMA @ 0.6149.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6167 |
| 1 | Daily SMA50 | 0.6201 |
| 2 | Daily SMA100 | 0.6247 |
| 3 | Daily SMA200 | 0.6149 |
The previous day high was 0.6086 while the previous day low was 0.6041. The daily 38.2% Fib levels comes at 0.6069, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6058, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.6044, 0.602, 0.5999
- Pivot resistance is noted at 0.609, 0.6111, 0.6136
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6086 |
| Previous Daily Low | 0.6041 |
| Previous Weekly High | 0.6112 |
| Previous Weekly Low | 0.5985 |
| Previous Monthly High | 0.6385 |
| Previous Monthly Low | 0.5985 |
| Daily Fibonacci 38.2% | 0.6069 |
| Daily Fibonacci 61.8% | 0.6058 |
| Daily Pivot Point S1 | 0.6044 |
| Daily Pivot Point S2 | 0.6020 |
| Daily Pivot Point S3 | 0.5999 |
| Daily Pivot Point R1 | 0.6090 |
| Daily Pivot Point R2 | 0.6111 |
| Daily Pivot Point R3 | 0.6136 |
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