The 0.8255/60 area had been a point of decent resistance and a point at which I had been taking off longs from below. The area has had a break out which could manifest into a push up to 0.8300.
NZD/USD daily chart 06 12 2013
Up ahead we have the 55 dma at 0.8291 which might put the breaks on further moves today but the question is are we seeing the start of a concerted move or just reaction to today’s numbers.
I’m a buyer down below at 0.8100 and I himmed and hammed at 0.8150 today. Fundamentally the kiwi is a good long term trade from below and for the short term. With AUD/NZD seemingly falling through the floor still it means the downside is fairly well supported.