We’ve just clinked into a new high of 0.8249 as the bulls grab the kiwi by the horns. The moves are confirming the break out from the short term channel, the 100 dma and the 55 wma. The next target is the 61.8 fib from the Apr/Jun hi/lo at 0.8294.
NZD/USD daily chart 17 09 2013
From there it’s virtually a clear run up to the 0.8580 level then the April high at 0.8673. I’ll be keeping an eye on the former resistance becoming support, only once we’re away from this stupid taper issue.
Aside from the obvious Fed risk we have NZ GDP tomorrow at 22.45 gmt. No doubt Agent Eamonn will have all you need to know before then.
