18 Dec 2014
NZD/USD gains on Upbeat NZ Q3 GDP numbers
FXStreet (Mumbai) - The New Zealand dollar advanced against its US counterpart, reversing losses from the previous session after New Zealand’s economy grew at faster pace than markets expected in the third quarter.
The NZD/USD pair trades at 0.7728 levels, 0.25% higher on the day, after having clocked a high of 0.7733 levels some minutes ago. The kiwi regained strength against the US dollar as after Q3 GDP data signalled that the New Zealand’s economy continued to expand at a solid pace in September quarter, with strongest primary-industry production seen in 15 years.
GDP growth measured 1% in the July-September period, beating market forecasts of a 0.7% expansion, and also outpacing the Reserve Bank of New Zealand's (RBNZ) 0.9% prediction.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7771 (Nov 7 High), above which it could extend gains to 0.7810 (Dec 3 High), levels. To the downside immediate support might be located at 0.7703 (10-day SMA), below that at 0.7682 (Dec 17 Low) levels.
The NZD/USD pair trades at 0.7728 levels, 0.25% higher on the day, after having clocked a high of 0.7733 levels some minutes ago. The kiwi regained strength against the US dollar as after Q3 GDP data signalled that the New Zealand’s economy continued to expand at a solid pace in September quarter, with strongest primary-industry production seen in 15 years.
GDP growth measured 1% in the July-September period, beating market forecasts of a 0.7% expansion, and also outpacing the Reserve Bank of New Zealand's (RBNZ) 0.9% prediction.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7771 (Nov 7 High), above which it could extend gains to 0.7810 (Dec 3 High), levels. To the downside immediate support might be located at 0.7703 (10-day SMA), below that at 0.7682 (Dec 17 Low) levels.