13 Feb 2015
NZD/USD supported above 0.7400
FXStreet (Mumbai) - The New Zealand traded modestly flat against the greenback in a choppy Asian session, although supported by mild gains in the Aussie and a recovery in oil prices.
Consolidates above 0.7420 levels
Currently, the NZD/USD trades flat at 0.7427 levels, in a narrow range locked between 0.7423-0.7436 levels. NZD/USD extended gains from the previous session and remains supported mimicking the gains in the Aussie after RBA’s Stevens said in his speech that he is more comfortable with the exchange rate. Moreover, recovery in oil and precious metals prices also underpinned the resource-dependent Kiwi.
NZD/USD rallied in the US last session after disappointing US retail sales and jobless claims data weakened the US dollar.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7449 levels and above which it could extend gains to 0.7488 levels. To the downside immediate support might be located at 0.7400 levels below that at 0.7381 levels.
Consolidates above 0.7420 levels
Currently, the NZD/USD trades flat at 0.7427 levels, in a narrow range locked between 0.7423-0.7436 levels. NZD/USD extended gains from the previous session and remains supported mimicking the gains in the Aussie after RBA’s Stevens said in his speech that he is more comfortable with the exchange rate. Moreover, recovery in oil and precious metals prices also underpinned the resource-dependent Kiwi.
NZD/USD rallied in the US last session after disappointing US retail sales and jobless claims data weakened the US dollar.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7449 levels and above which it could extend gains to 0.7488 levels. To the downside immediate support might be located at 0.7400 levels below that at 0.7381 levels.