Forex Flash: NZD/USD's failure to sustain gains above 0.82 telling - BNZ

By FXstreet.com | October 29, 2012 AAA

FXstreet.com (San Francisco) - BNZ's index of risk appetite, at 68.8% (which has a scale of 0-100%), "is now well below the near 80% peak of a fortnight ago," notes Mike Jones, Currency Strategist at BNZ, which "helps explain why the 'risk-sensitive' NZDUSD keeps finding the air a little thin above 0.8200," he says. "But for now, the currency's failure to sustain gains above 0.8200 simply means the familiar 0.8145-0.8245 range has become even more entrenched. Today's data and events are unlikely to provide a trigger for a break out of this range."



NZDUSD currently exchanges 0.8190 in the American afternoon; the 50-day EMA offers support on further dips at 0.8158, then 0.8133 (50%, 0.7912/0.8355 advance).



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center