NZD/USD Long Position

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
236 0 2
A move back to the 0.8680 resistance area is likely after Friday's NFP release. Last week's decline to a low of 0.8512 was mostly flow-driven, as the long Kiwi position was crowded and the Fonterra story provided an excuse for a washout in the pair. I expect the Antipodean currencies to remain bid amid solid risk-sentiment, especially the Kiwi, given the lack of risk events in the upcoming week. The FOMC Minutes is the biggest risk event, but unlikely to bring any surprises. The weather effects are now fading away out of the US economic data, but it will need continuos improvements before the camp of hawks calling for an earlier start of rate hikes within the central bank grows.

Technically, I expect the 0.8550/60 area to be well-supported. To the topside, initial resistance at 0.8620 and then 0.8680-90.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out