6 Apr 2015
NZD/USD hovers around 0.76
FXStreet (Mumbai) - NZD/USD remains buoyed in the European session, extending its uptrend in to the third straight session and correlating gains seen in its OZ neighbour amid a flattish greenback across the board.
NZD/USD supported above 100-DMA
Currently, the NZD/USD pair trades at 0.7604, up 0.07% and clings on to 0.76 handle. NZD/USD holds mild gains as the Kiwi remains supported following Friday’s 1% as a softer than expected US jobs report prompted investors to place bets that the Federal Reserve will hold off on raising interest rates until later this year.
More so, a firming AUD/USD and strength seen in the commodity space also supported the New Zealand dollar versus the greenback. Meanwhile, in absence of major NZ data release in the week ahead, traders will focus on US economic releases including today’s US services PMI and FOMC minutes for further momentum on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7622 (Today’s High) levels and above which it could extend gains to 0.7665 levels. To the downside immediate support might be located at 0.7577 levels below that at 0.7550 levels.
NZD/USD supported above 100-DMA
Currently, the NZD/USD pair trades at 0.7604, up 0.07% and clings on to 0.76 handle. NZD/USD holds mild gains as the Kiwi remains supported following Friday’s 1% as a softer than expected US jobs report prompted investors to place bets that the Federal Reserve will hold off on raising interest rates until later this year.
More so, a firming AUD/USD and strength seen in the commodity space also supported the New Zealand dollar versus the greenback. Meanwhile, in absence of major NZ data release in the week ahead, traders will focus on US economic releases including today’s US services PMI and FOMC minutes for further momentum on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7622 (Today’s High) levels and above which it could extend gains to 0.7665 levels. To the downside immediate support might be located at 0.7577 levels below that at 0.7550 levels.