March 12, 2015: NZD is the strongest. The USD is the weakest as it corrects. Further
The USD is retreating in trading today after an 11 day decline in the EURUSD that saw the price move about 880 pips lower. The greenback has gained 0.83% against the EUR in the morning snapshot as NY traders enter for the trading day.
The NZD is the strongest currency. The RBNZ kept rates steady, and indicated that rates can either go higher or lower at this point in time. The NZDUSD is the days largest gainer in trading today, rising by 1.54% from the 5 PM ET NY close (the NZD is higher against all major currency pairs). On the way higher, the pair has been able to push through the trend line resistance, the 100 hour MA ( blue line in the chart below) and is currently testing the 200 hour MA (green line in the chart below). This should slow the ascent (the 200 hour MA is at 0.74258 currently - the high reached 0.7422).
