17 Feb 2015
NZD/USD retreats from 4-week highs
FXStreet (Córdoba) - NZD/USD pulled back from a 4-week high and trimmed daily gains at the beginning of the American session weighed by lower volume in Fonterra dairy auction (-18%) despite higher prices (+10.1%).
A bout of dollar demand also pressured the pair that retreated from a high of 0.7555 to a session low of 0.7495 before finding support. At time of writing, NZD/USD is trading at 0.7520, 0.31% above its opening price but having surrendered half of its intraday advance.
NZD/USD technical levels
In terms of technical levels, NZD/USD could find immediate supports at 0.7495 (session low), 0.7481 (daily low) and 0.7469 (Feb 16 low). On the other hand, resistances line up 0.7555 (daily high), 0.7583 (Jan 22 high) and 0.7600 (psychological level).
A bout of dollar demand also pressured the pair that retreated from a high of 0.7555 to a session low of 0.7495 before finding support. At time of writing, NZD/USD is trading at 0.7520, 0.31% above its opening price but having surrendered half of its intraday advance.
NZD/USD technical levels
In terms of technical levels, NZD/USD could find immediate supports at 0.7495 (session low), 0.7481 (daily low) and 0.7469 (Feb 16 low). On the other hand, resistances line up 0.7555 (daily high), 0.7583 (Jan 22 high) and 0.7600 (psychological level).