20 Feb 2015
NZD/USD reaches fresh session highs
FXStreet (Mumbai) - The New Zealand dollar jumped to fresh highs versus the US counterpart in the Asian morning, largely mirroring the gains from its Oz counterpart amid softer US dollar.
NZD/USD supported above 5-DMA
Currently, the NZD/USD trades higher by 0.22% on the day, close to new session highs at 0.7536 levels, heading towards monthly highs reached at 0.7576 levels in the previous session. NZD/USD extended its long stretch of gains, barring a brief reversal seen in the previous session and advanced this morning mainly due to higher Aussie, supported on reports by S&P that Australia’s AAA credit rating was at no near-term risk.
Moreover, a slightly weaker US dollar after mixed US macro data released yesterday continue to underpin NZD/USD.
Meanwhile, the pair is likely to remain buoyed on a data light day amid stabilizing commodity prices.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7577 (50-DMA) levels and above which it could extend gains to 0.7600 levels. To the downside immediate support might be located at 0.7525 (5-DMA) levels below that at 0.7500 levels.
NZD/USD supported above 5-DMA
Currently, the NZD/USD trades higher by 0.22% on the day, close to new session highs at 0.7536 levels, heading towards monthly highs reached at 0.7576 levels in the previous session. NZD/USD extended its long stretch of gains, barring a brief reversal seen in the previous session and advanced this morning mainly due to higher Aussie, supported on reports by S&P that Australia’s AAA credit rating was at no near-term risk.
Moreover, a slightly weaker US dollar after mixed US macro data released yesterday continue to underpin NZD/USD.
Meanwhile, the pair is likely to remain buoyed on a data light day amid stabilizing commodity prices.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7577 (50-DMA) levels and above which it could extend gains to 0.7600 levels. To the downside immediate support might be located at 0.7525 (5-DMA) levels below that at 0.7500 levels.