24 Mar 2015
NZD/USD consolidates above 0.7600
FXStreet (Córdoba) - The kiwi is falling modestly against the US dollar on Tuesday but is consolidating around 2-month highs. The NZD/USD pair recently reached at 0.7696 the strongest level since January 21 but failed to hold and pulled back.
The retreat from the highs found support above 0.7600 and currently is hovering around 0.7640, slightly below yesterday's closing price.
NZD/USD outlook
During the last 24 hours NZD/USD has been moving sideways around 0.7645 with support above 0.7605 and resistance bleow 0.7700. The pair still holds a bullish bias as it consolidates above last month highs.
From the level it had a week ago, the pair is up more than 300 pips and short term technical indicators are showing overbought readings. The US dollar remain weak across the board limiting any bearish correction in NZD/USD.
The retreat from the highs found support above 0.7600 and currently is hovering around 0.7640, slightly below yesterday's closing price.
NZD/USD outlook
During the last 24 hours NZD/USD has been moving sideways around 0.7645 with support above 0.7605 and resistance bleow 0.7700. The pair still holds a bullish bias as it consolidates above last month highs.
From the level it had a week ago, the pair is up more than 300 pips and short term technical indicators are showing overbought readings. The US dollar remain weak across the board limiting any bearish correction in NZD/USD.