9 Mar 2015
NZD/USD consolidates above 0.7350
FXStreet (Córdoba) - The NZD/USD pair erased gains and is consolidating above 0.7350, currently trading at 0.7360/65, at the same level it closed on Friday. The kiwi is trading flat against the US dollar after losing more than 200 pips during the previous two trading days.
At the beginning of the current week the pair dropped to 0.7320 hitting a fresh 3-week low and then bounced to the upside, but the recovery lost strength below 0.7400.
NZD/USD technical levels ahead of RBNZ
Later in the week the Reserve Bank of New Zealand will announce its decision on monetary policy. It is expected to keep rates unchanged but some analysts consider that it could lower it. The statement is likely to impact the kiwi, with traders looking for a policy bias.
To the upside, resistance could be located a t0.7445/50 , 0.7570 and 0.7615. On the opposite direction, strong moves could find support at 0.7310, 0.7215 and 0.7175 (2015 low).
At the beginning of the current week the pair dropped to 0.7320 hitting a fresh 3-week low and then bounced to the upside, but the recovery lost strength below 0.7400.
NZD/USD technical levels ahead of RBNZ
Later in the week the Reserve Bank of New Zealand will announce its decision on monetary policy. It is expected to keep rates unchanged but some analysts consider that it could lower it. The statement is likely to impact the kiwi, with traders looking for a policy bias.
To the upside, resistance could be located a t0.7445/50 , 0.7570 and 0.7615. On the opposite direction, strong moves could find support at 0.7310, 0.7215 and 0.7175 (2015 low).