30 Jan 2015
NZD/USD eases off fresh 4-year lows, eyes 0.73 barrier
FXStreet (Mumbai) - NZD/USD edged higher in the mid-Asian session, retreating from fresh four year lows reached in the previous session on RBNZ statement.
Inches to day’s high at 0.7295
Currently, the NZD/USD traded at 0.7278, up 0.11% on the day, recovering from fresh four year lows posted at 0.7228 levels in the previous session. The Kiwi moved away from mutli year lows on a bout of profit taking on the short positions after the recent slump. However, the downtrend in the kiwi is likely to persist after the RBNZ neutral policy stance surprised markets as expectations of an interest rate cut continue to mount.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7300 and above which it could extend gains to 0.7350 levels. To the downside, immediate support might be located at 0.7228 levels and below that at 0.7200 levels
Inches to day’s high at 0.7295
Currently, the NZD/USD traded at 0.7278, up 0.11% on the day, recovering from fresh four year lows posted at 0.7228 levels in the previous session. The Kiwi moved away from mutli year lows on a bout of profit taking on the short positions after the recent slump. However, the downtrend in the kiwi is likely to persist after the RBNZ neutral policy stance surprised markets as expectations of an interest rate cut continue to mount.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7300 and above which it could extend gains to 0.7350 levels. To the downside, immediate support might be located at 0.7228 levels and below that at 0.7200 levels