6 Mar 2015
NZD/USD lingers below 0.7500
FXStreet (Mumbai) - NZD/USD reversed RBNZ- induced losses and advanced in the Asian session, mainly driven by a short-covering rally after the recent weakness seen in the US last session.
NZD/USD rises from 0.7480 levels
Currently, the NZD/USD pair trades 0.12% higher at 0.7493 levels, having previously bounced-off session highs just ahead of 0.7500. NZD/USD extended its overnight recovery mode and inched higher as the US dollar retreats from twelve year peak on dismal unemployment claims and factory orders data from the US, while traders gear up for the most anticipated US non-farm payrolls due later in the day.
NZD/USD fell to fresh weekly low in the previous session after the Reserve Bank of New Zealand (RBNZ) released a document outlining a new consultation regarding housing investment curbs, and also after the nation's biggest export partner China downgraded its growth outlook.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7517 (20-DMA) levels and above which it could extend gains to 0.7534 (Feb 24 High) levels. To the downside immediate support might be located at 0.7449 levels below that at 0.7420 levels
NZD/USD rises from 0.7480 levels
Currently, the NZD/USD pair trades 0.12% higher at 0.7493 levels, having previously bounced-off session highs just ahead of 0.7500. NZD/USD extended its overnight recovery mode and inched higher as the US dollar retreats from twelve year peak on dismal unemployment claims and factory orders data from the US, while traders gear up for the most anticipated US non-farm payrolls due later in the day.
NZD/USD fell to fresh weekly low in the previous session after the Reserve Bank of New Zealand (RBNZ) released a document outlining a new consultation regarding housing investment curbs, and also after the nation's biggest export partner China downgraded its growth outlook.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7517 (20-DMA) levels and above which it could extend gains to 0.7534 (Feb 24 High) levels. To the downside immediate support might be located at 0.7449 levels below that at 0.7420 levels