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24 Dec 2014
NZD/USD moving up within bullish triangle
FXStreet (Guatemala) - NZD/USD is trading at 0.7723, up 0.23% on the day, having posted a daily high at 0.7735 and low at 0.7699.
NZD/USD has been steadily drifting higher after moving up onto the 0.77 handle and capped by 0.7730. The dollar has started to give some ground back else where also, but the Kiwi has been the better performer of late and on a number of positive outlooks for New Zealand’s 2015-economy. The RBNZ may have room for a rate hike towards the end of next year, which is also supporting the currency into the end of the year.
Meanwhile, the charts are offering a triangle and the pair has been making lower lows since last week on the hourly chart. The lower highs are coming to the point of the rising support line established earlier in the month. This maybe a bullish indication and rallies would target 0.7800 resistance of the top of the triangle.
NZD/USD has been steadily drifting higher after moving up onto the 0.77 handle and capped by 0.7730. The dollar has started to give some ground back else where also, but the Kiwi has been the better performer of late and on a number of positive outlooks for New Zealand’s 2015-economy. The RBNZ may have room for a rate hike towards the end of next year, which is also supporting the currency into the end of the year.
Meanwhile, the charts are offering a triangle and the pair has been making lower lows since last week on the hourly chart. The lower highs are coming to the point of the rising support line established earlier in the month. This maybe a bullish indication and rallies would target 0.7800 resistance of the top of the triangle.