12 Dec 2014
NZD/USD slides on weak NZ Manufacturing data
FXStreet (Mumbai) - The New Zealand dollar slid against its US counterpart, after the Kiwi manufacturing activity data failed to impress the markets.
The NZD/USD pair trades lower at 0.7790 levels, down -0.33%, compared to previous day’s close of 0.7819. The kiwi pared gains today after climbing higher in the previous session on Reserve Bank of New Zealand's (RBNZ) slightly hawkish policy statement.
Markets were also disappointed as the BusinessNZ Performance of Manufacturing Index eased to 55.2 in November from a revised 58.9 a month earlier.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7802 (20-day SMA), above which it could extend gains to 0.7826 (Dec 4 High) levels. To the downside immediate support might be located at 0.7749 (200-day SMA), below that at 0.7717 (100-day SMA) levels.
The NZD/USD pair trades lower at 0.7790 levels, down -0.33%, compared to previous day’s close of 0.7819. The kiwi pared gains today after climbing higher in the previous session on Reserve Bank of New Zealand's (RBNZ) slightly hawkish policy statement.
Markets were also disappointed as the BusinessNZ Performance of Manufacturing Index eased to 55.2 in November from a revised 58.9 a month earlier.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7802 (20-day SMA), above which it could extend gains to 0.7826 (Dec 4 High) levels. To the downside immediate support might be located at 0.7749 (200-day SMA), below that at 0.7717 (100-day SMA) levels.