25 Mar 2015
NZD/USD erases gains
FXStreet (Mumbai) - The NZD/USD pair is back into the red after having faced rejected at the technical resistance around 0.7650.
NZD shrugs off Fonterra CEO comments
The Kiwi failed to strengthen after Fonterra CEA, in an interview, said a fresh milk deficit is emerging in China due to which the milk demand from China looks promising. However, the positive comments failed to push the NZD/USD over and above 0.7650 levels. NZD/USD currently trades at 0.7614; down 0.50%.
NZD/USD Technical Levels
The immediate resistance is seen at the daily high of 0.7657, above which the gains could be extended to the previous session’s high of 0.7695. On the other hand, a break below 0.7604 (5-DMA) could see the pair re-test the 100-DMA located at 0.7583.
NZD shrugs off Fonterra CEO comments
The Kiwi failed to strengthen after Fonterra CEA, in an interview, said a fresh milk deficit is emerging in China due to which the milk demand from China looks promising. However, the positive comments failed to push the NZD/USD over and above 0.7650 levels. NZD/USD currently trades at 0.7614; down 0.50%.
NZD/USD Technical Levels
The immediate resistance is seen at the daily high of 0.7657, above which the gains could be extended to the previous session’s high of 0.7695. On the other hand, a break below 0.7604 (5-DMA) could see the pair re-test the 100-DMA located at 0.7583.